Testifying before Congress on Tuesday, the five Securities and Exchange Commissioners said they were doing a good job of policing corporate America.

“The initiatives underway at the Commission have a common theme: they are aimed at benefiting investors whose returns are dependent on healthy, well-functioning markets,” SEC Chairman Christopher Cox testified. “We have created special working groups within our enforcement division to deal with emerging risks such as hedge fund insider trading, stock options backdating, and microcap fraud. Earlier this year we filed the largest insider trading case against Wall Street professionals since the days of Ivan Boesky and Dennis Levine, involving major Wall Street firms as well as hedge funds.”

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.