In the Headlines
October 3, 2024
Departing Gurbir Grewal Took the SEC "Into New Territory"
InvestmentNews
Securities Enforcement Defense Team Chair Jessica Magee was quoted in an InvestmentNews article about the departure of Gurbir Grewal, director of the U.S. Securities and Exchange Commission's (SEC) Division of Enforcement. The article highlighted Grewal's significant impact during his tenure, including over 2,400 enforcement actions resulting in more than $20 billion in penalties, with a particular focus on the cryptocurrency industry. Ms. Magee provided insights on Grewal's leadership, noting the division's expansion into new areas of enforcement and improved communication about cooperation credit.
"Though the SEC pursued and filed a number of standard-fare Ponzi scheme, offering fraud and insider trading cases under Grewal's leadership, he also oversaw the program expand into new territory of increased enforcement involving cybersecurity, whistleblower rights issues, regulated entities' record-keeping practices including billions recovered for so-called 'off-channel' communications violations, greenwashing and more recently AI-washing, and closely followed litigated cases including the much-discussed [Matthew] Panuwat 'shadow trading' case the SEC won at trial," she said.
READ: Departing Gurbir Grewal Took the SEC "Into New Territory"
"Though the SEC pursued and filed a number of standard-fare Ponzi scheme, offering fraud and insider trading cases under Grewal's leadership, he also oversaw the program expand into new territory of increased enforcement involving cybersecurity, whistleblower rights issues, regulated entities' record-keeping practices including billions recovered for so-called 'off-channel' communications violations, greenwashing and more recently AI-washing, and closely followed litigated cases including the much-discussed [Matthew] Panuwat 'shadow trading' case the SEC won at trial," she said.
READ: Departing Gurbir Grewal Took the SEC "Into New Territory"