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SEC Looking to Hand Out Punishments that Fit the Crime

The Securities and Exchange Commission is experimenting with punishments that more closely fit the wrongdoing at issue in a bid to give its enforcement cases more bite.Criticized for its traditional practice of a broad ban on wrongdoers breaking securities law again, the SEC is testing injunctions that specifically bar certain behavior, such as giving advice to pension funds or profiting from presenting investment seminars.Critics of the SEC's typical broad prohibitions say they are ineffective and not well enforced. Customized injunctions could also be a more precise tool than the blunt instrument of barring an individual from being a company officer or director."We want to use all of the tools available to us to specifically discourage repeat misconduct and go beyond the injunctions we traditionally obtain," George Canellos, the SEC's acting enforcement director, told Reuters in an interview.In the past year SEC lawyers have slowly started seeking injunctions that bar defendants from...

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  1. SEC testing customized punishments

    The Securities and Exchange Commission is experimenting with punishments that more closely fit the wrongdoing at issue in a bid to give its enforcement cases more bi...

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