12.9.2009 Robert Khuzami, Director of the Division of Enforcement, spoke before the U.S. Committee on the Judiciary, along with colleagues from the U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation. He spoke on how the SEC is moving on five primary fronts to advance these objectives:

  1. Investigating and pursuing enforcement cases based on unlawful conduct related to the financial crisis;
  2. Enhancing the historically close working relationship with other law enforcement authorities, including the DOJ, in order to maximize the efficient use of limited resources, as well as to deliver a united and forceful response to those who would violate the federal securities laws;
  3. Implementing several initiatives, including the creation of national specialized units that will make the Division of Enforcement more knowledgeable and efficient in attacking the causes of the recent financial crisis, as well as better arming the SEC to address current and future market practices that are a potential cause for concern;
  4. Proposing various legislative reforms to provide the Division with improved tools to address securities fraud and related misconduct, including nationwide service of process, a whistleblower program, and improved access to grand jury material; and
  5. Seeking to address the compelling need for additional resources within the Division and throughout the SEC.

Click http://www.sec.gov/news/testimony/2009/ts120909rk.htm to access the testimony.