United States: No Hidden Balls At The SEC

In May 2022, at the Securities Enforcement Forum West Conference, Gurbir Grewal, the Director of the Division of Enforcement for the U.S. Securities and Exchange Commission, created headlines in a speech that discussed perceived “gamesmanship” by defense attorneys in enforcement investigations.

[T]oo often, we see defense counsel — sometimes even including Enforcement alums — engage in conduct that seems to have little purpose other than to delay our investigations …. When we see counsel repeatedly encountering unexplained issues that delay productions across different clients and matters, it undermines both our process and trust between counsel and investigative staff. While this […]

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By Donato