The Committee on Broker-Dealer Regulation and SEC Enforcement of the Corporation, Finance and Securities Law Section of the District of Columbia Bar and the Committee on Securities Litigation of the Association of the Bar of the City of New York

“Riding Herd on Complex Products - SEC Enforcement Launches Its Structured and New Products Unit"

This panel - conducted in both Washington and New York by video link - will let the audience interact with the Chief and Deputy Chief of SEC Enforcement Division's newly-created Structured and New Products Unit.  The unit, one the important changes to the agency's enforcement program announced on January 13, 2010, will focus on complex derivatives and financial products, including credit default swaps, collateralized debt obligations, and securitized products.  In remarks last month, the SEC's Enforcement Director explained that the new unit will “stay abreast of market trends and the development of new products, or new twists on old products,” and that as the anticipated 2012-15 “maturity wall” for $700 billion in high-yield corporate debt begins to burden the debt market, the new unit will keep a “close eye” on any improprieties in pricing, disclosure or offering practices, or newly-devised or customized structures to sell it.  The unit will coordinate the SEC's enforcement response and pull together resources from other divisions, including the SEC's new Division of Risk, Strategy, and Financial Innovation.  Clearly SEC Enforcement is treading on new ground, and the unit's new leaders will answer questions on what lies ahead.

In Co-sponsorship with the Administrative Law and Agency Practice Section, the Arts, Entertainment, Media and Sports Law Section, the Computer and Telecommunications Law Section, the Criminal Law and Individual Rights Section, the Labor and Employment Section, the Law Practice Management Section, the Litigation Section, and the Taxation Section