Individuals who work in the field of securities should be aware that their actions may be more closely scrutinized than before. This is due to actions on the part of the Securities and Exchange Commission. A new report indicated that in 2013 the SEC worked to better enforce the rules and regulations in several areas. In addition to looking for financial fraud, it is also on the lookout for lapses in financial reporting and accounting.
The area of securities regulation is complex. Accordingly, it makes sense that defending oneself against the criminal allegations of securities fraud would also be a complex endeavor. A New York man who formerly worked as a managing director at an investment banking firm is likely learning this firsthand.
A recent decision by the Second Circuit Court of Appeals in New York will make it easier for the U.S. Securities and Exchange Commission (SEC) to bring charges against someone for aiding or assisting in securities fraud - further exposing those involved in the already heavily regulated industry to additional criminal liability.
Securities regulation is a complex area of law and with the introduction of more advanced technology almost every day, it is very difficult to prevent exposure to liability in the securities trading industry. These regulations can impact anyone from an individual broker to an entire financial institution.