Mary Jo White, chair of the U.S. Securities and Exchange Commission, speaks at The Economic Club of New York, in Manhattan, June 20, 2014
”The Securities and Exchange Commission’s push to step up policing of accounting fraud could have a lasting impact on the agency’s work, bringing more cases related to poor internal controls and more actions against individuals, a top former official said.
SEC Chairman Mary Jo White began her tenure in 2013 with a promise to refocus the agency on investigating financial-reporting and disclosure problems, after years dominated by financial-crisis cases.
The push has led to a steady increase in those types of cases: 134 in the year ended in September, up from 98 the previous year and 68 the year before that.
Behind that increase, according to David Woodcock, who led the SEC’s accounting-fraud task force from its inception in 2013 and is now in private practice at law firm Jones Day, is a new approach to the cases…….”
Source: The Wall Street Journal – http://blogs.wsj.com/law/2016/02/25/prosecutorial-bent-shows-in-sec-accounting-fraud-push-ex-official-says/