SEC prioritizes traditional enforcement cases under new leadership

The U.S. Securities and Exchange Commission (SEC) plans to shift its focus back to traditional enforcement cases, according to the acting director of enforcement, Sam Waldon. This change comes as the agency undergoes leadership transitions and staff changes since Republicans took over in January. Waldon stated that the SEC will prioritize cases involving individual wrongdoing and fraud, especially those targeting elderly victims. He noted that the agency has been creative in past enforcement actions, like the "shadow trading" case, but he believes the focus will now return to well-established areas such as insider trading and accounting fraud. Emerging technologies and fraud against retail investors will also be key areas of emphasis. Waldon mentioned that holding individuals accountable for their actions will be a major priority for the SEC. He expects these types of cases to be well-received by the new commission leadership. Paul Atkins, the new appointee to lead the SEC, is scheduled to testify in front of Congress on Thursday. Under his leadership, the SEC is expected to ease regulations on Wall Street. Since January, the agency has changed its approach to cryptocurrency, halting some key enforcement actions against firms in the sector. Waldon responded to questions about this change, stating that it is still too early to assess its full impact.