Ceresney Provides Advice to Defense Counsel About SEC Changes in Enforcement Function

Adjustments to the Securities and Exchange Commission’s enforcement function is enabling the agency to be more aggressive with individuals and corporations when pursuing allegedly violative behavior, SEC Enforcement Division Co-Director Andrew Ceresney said Oct. 1.

Ceresney, named to his position in April, said the commission’s decision to demand admissions of guilt in certain cases — a change announced by SEC Chairman Mary Jo White June 18 — will be required in instances in which the admission is an indispensable element of the settlement, even if securing those admissions may delay effectuating other remedies or increases litigation risk.

Also, the SEC’s ...