It was a busy week at the U.S. Securities and Exchange Commission, which announced three significant new enforcement actions that yielded more than $28 million in penalties.
What’s notable is that all three suits were filed administratively, not in U.S. district courts. To the consternation of the defense bar, the SEC is increasingly turning to its in-house forum rather than federal courts to bring cases. The 2010 Dodd-Frank Act expanded the agency’s ability to win penalties administratively that were previously only available in district courts.
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