Ex-SEC Enforcer: WhatsApp Fines Test Limits Of Cooperation (Law360)

Law360, February 8, 2023 

Ex-SEC Enforcer: WhatsApp Fines Test Limits Of Cooperation 

The U.S. Securities and Exchange Commission’s calls for cooperation fall on deaf ears when it issues massive fines like the ones levied against big banks that aided investigations into employees’ off-book communications, former SEC Enforcement Director Stephanie Avakian said Wednesday. Avakian, now a partner at WilmerHale, said during a panel hosted by the New York City Bar Association that her successor’s promise of benefits for those who cooperate with the SEC is belied by the agency’s own actions.

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