On Wednesday, November 9, 2011, the SEC issued a Press Release announcing that it had filed 735 enforcement actions in the fiscal year ending September 30, 2011, touting it as the "most enforcement actions filed in a single year".
To start the new year SEC enforcement partially settled a long running insider trading case.
The SEC and the New York Attorney General brought high profile actions in the on-going "pay to play" cases.
Altering compliance records prior to their production for an examination and inadequate procedures to control the flow of nonpublic information became the predicate for sanctions against a broker dealer, an investment adviser and the chief compliance officer of both.
Following the elections, Capital Hill is preparing for a significant shift.