The Securities and Exchange Commission is shaking up its enforcement division, establishing five priority areas, including one pointed directly at hedge funds and private equity firms.
The agency, and in particular its enforcement arm, have taken a beating in the press and on Capitol Hill for its failure to detect Bernard Madoff’s $65 billion Ponzi scheme and other alleged frauds. The SEC has responded with what it calls the most significant reorganization of the enforcement division since it was created nearly 40 years ago
