The Securities and Exchange Commission has announced a new initiative aimed at bolstering its enforcement efforts by improving the coordination of various agencies.
The SEC’s Division of Enforcement has established the Interagency Securities Council (ISC), which invites federal, state, and local regulatory and law enforcement professionals to meet quarterly to discuss the latest developments in scams, trends, frauds, and mitigation strategies.
“The ISC’s objective is to strengthen the cohesion between federal, state, and local agencies, enhance opportunities to collaborate on cases to protect investors, provide insight and guidance across the ecosystem to those who may not frequently operate in this space, and create a forum for unified efforts in combatting financial fraud,” the SEC’s announcement said.
Representatives from more than 100 departments and agencies were involved in the launch of the council this month, including federal agencies, state offices of attorneys general and state police, and local police departments and sheriff’s offices.
“The Interagency Securities Council will help front line investigators stay abreast of emerging threats and fact patterns to protect their communities from securities fraud, while supporting the efforts of federal, state, and local law enforcement partners across the country,” said Gurbir S. Grewal, Chair of the ISC and Director of the SEC’s Division of Enforcement.
The SEC said members of the council will take part in discussions with experts on threats, hear from investigators conducting and supervising investigations, and explore case study examples of agencies employing innovative approaches to combat financial fraud.
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