Financial Crisis Of 2008 The Sec

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Since the financial crisis of 2008 the SEC’s mission has been to protect investors and win back the trust of the public in capital markets. In efforts to combat fraud and preventing another financial crisis, the SEC has grown their staff and is working on revamping their technological capabilities. For the last 3 years we have seen aggressive enforcement, strategic reforms and new regulations with in the division.
In the 2012 fiscal year the SEC heavily emphasized regulations under the Dobbs Frank act and the Securities Exchange Act of 1934. In this fiscal year under the Dobbs Frank act the SEC issued its first Whistleblower Program award. The Whistleblower Program allows the division to award individuals with high-quality information, which leads to an enforcement action. The success of this program has helped the SEC catch predators early on. It saves the division time and resources by uncovering and tipping off the crime to them. The program also helps identify fraud much earlier on. This can help elevate some of the damage to investors and even mitigate the number of possible victims. Also under the Dobbs Frank act the SEC barred 36 individuals from working in the securities industry.

Another area where the SEC turned its attention to was The Securities Exchange Act of 1934. In September of 2012 the SEC made its first financial penalty against an exchange. The New York Stock Exchange was in violation of the NMS (National Market System)

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