Summary: No one likes to think that a hurricane is going to barrel through their town, flood their home and blow their roof off, but it would be foolish not to keep fresh water, food and a working flashlight on hand. It's always better to be prepared — a lesson that applies to companies trying to stay out of trouble. And trouble often comes in the form of an inquiry or an investigation by the Securities and Exchange Commission (SEC). Companies don't have to wait for a call from the SEC's enforcement division before they act, however. They can take the initiative to get their house in order. You might think you can ride out a storm, but it still wouldn't hurt to check your flash light batteries once in a while. Highlights: There are several different kinds of complaints that come to the attention of the SEC — which categories dominate the SEC's current caseload? Why do they receive more attention from its enforcement division? What's your reaction to SEC Chairman Christopher Cox's recent admission that the SEC should have exercised more oversight, and that self-policing on the part of the financial sector didn't work the way it was supposed to? What industries has the SEC focused on in recent years, and why would fraud be found more often in one industry versus another? No company wants to be the target of an SEC investigation, but it's always good to be prepared for one. What can companies do to cover their bases if a case is opened? Guests: Kerry Francis, partner, Forensic & Dispute Services, Deloitte Financial Advisory Services LLP Walter Ricciardi, partner, Paul, Weiss and former deputy director of the Division of Enforcement of the SEC Bob Sprague, senior manager, Forensic & Dispute Services, Deloitte Financial Advisory Services LLP
