The SEC isn’t asleep. Far from it. The staff are hard at work not just crafting rules for new legislation but also in ferreting out violations of securities regulations.

In fact, 2016 has been a record year for this. They have, thus far, filed 868 enforcement actions against issuers, brokers, investments advisers and…yes…lawyers. The result has been more than $4 billion in fines and penalties (and counting).

The message is clear – ignorance of the law isn’t a defense, they are on the watch for violations and aggressively pursuing people. So tread carefully and always seek the counsel of experienced attorneys, accountants and financial advisers.


Scott Purcell