The Securities and Exchange Commission is reportedly preparing to turn its attention to accounting fraud cases after being diverted in recent years to Ponzi schemes and subprime mortgage fraud in the wake of the financial crisis.
The Wall Street Journal reported Monday that the SEC is planning to target accounting fraud and financial disclosure cases once again, which used to make up a larger proportion of civil enforcement cases. From 2003 to 2005, they comprised approximately 25 percent of the SEC’s enforcement actions, but that proportion dropped to around 11 percent in the fiscal year ending Sept. 30, 2012.
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