SEC Expected to Focus on Fraud Enforcement Fundamentals in 2025

The SEC this year will turn away from more expansive or novel enforcement tools used in the Biden administration, and double down on bread-and-butter fraud cases, attorneys say.

“Expect less appetite for corporate penalties and lower penalty amounts,” said Jessica Magee a former SEC enforcement officer now with Holland & Knight LLP. That anticipated shift raises the question of how the Securities and Exchange Commission will create incentives for self-reporting and cooperation, she told Bloomberg Law.

Gregory Baker of Patterson Belknap Webb & Tyler LLP, who was at the SEC during the transition from the Obama administration to the first ...