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SEC Enforcement Referrals Back To ‘Normal’

As the memory of the mutual fund scandals of recent years fades, the number of enforcement referrals brought to the Securities and Exchange Commission has dwindled to levels close to where they were before the incidents.

As the memory of the mutual fund scandals of recent years fades, the number of enforcement referrals brought to the Securities and Exchange Commission has dwindled to levels close to where they were before the incidents. John Walsh, chief counsel and associate director for the SEC’s Office of Compliance told a SEC/NASD compliance conference that last year 22% of brokerages were referred post-exam, down from 27% during the scandal, while referral from mutual fund firm exams has dipped to 11% from 17%. “It appears it really was event driven,” Walsh said to the conference, according to Investment News.

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