As the Securities and Exchange Commission's enforcement and litigation activity in 2012 demonstrates, the agency's focus on municipal market enforcement has increased dramatically, and this trend seems likely to continue under the SEC's new leadership.
The SEC demonstrated this focus more than two years ago, when its Enforcement Division formed a specialized Municipal Securities and Public Pensions Unit. That unit, in turn, has filed increasing numbers of cases each year, including a record number of municipal market enforcement actions in 2012.
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