SEC Lures Top Enforcer Who Says Tougher Punishment Is Coming

[mahatmakanejeeves]

Source: The Wall Street Journal.

WSJ NEWS EXCLUSIVE

SEC Lures Top Enforcer Who Says Tougher Punishment Is Coming

Gurbir Grewal brings decades as prosecutor to Wall Street regulatory role

By Dave Michaels
https://twitter.com/davidamichaels
Dec. 13, 2021 5:30 am ET

WASHINGTON—The Securities and Exchange Commission often picks its top cop from the ranks of Wall Street’s best defense lawyers. Its newest one hadn’t worked on a securities case in almost six years until he took on the job in July.

Gurbir Grewal became the director of the SEC’s enforcement program after serving as New Jersey’s attorney general for more than three years, during which he overhauled police use-of-force training and disciplinary transparency, spoke out against Asian-American hate crimes, and took personal heat for how state officials dealt with the coronavirus pandemic.

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Read more: https://www.wsj.com/articles/sec-lures-top-enforcer-who-says-tougher-punishment-is-coming-11639391403

[efhmc]

1. Unregulated profits are wrong and actually hurt all of us.

So great news for our country.

[ancianita]

2. He sounds formidable. Wall Street better lawyer up.

"When you see repeatedly the same address, with the same individuals, at the same location continuing to order parts for the same types of guns, some red flags have to go up, that what’s going on here is not somebody who’s an enthusiast or a hobbyist, but rather somebody who’s engaged in illegal trafficking. And that is part of the problem with ghost gun manufacturers, that they are playing fast and loose with our rules."[16] Days later, Grewal filed the first of its kind lawsuit against a ghost gun manufacturer, U.S. Patriot Armory, accusing the company of violating New Jersey's ghost gun ban by ignoring a cease-and-desist order to stop selling rifle-assembly kits to New Jersey buyers.[17]

Also in March 2019, Grewal filed lawsuits against ExxonMobil,[18] DuPont, and 3M, accusing the companies of polluting sites in New Jersey; he stated, “We’re sending a strong message to polluters that no matter how big you are, or how powerful you are, or how long you’ve been getting away with contaminating your state’s natural resources, we are going to hold you accountable in court."[19]

...

On August 8, Grewal announced the dismantling of two major drug- and gun-trafficking criminal organizations, accompanied by the arrests of 28 individuals and the seizure of significant amounts of narcotics, ammunition, and cash.[33]...

In June 2020, Grewal announced charges against public officials in Paterson for alleged voter fraud.[35]

https://en.wikipedia.org/wiki/Gurbir_Grewal

[IronLionZion]

3. America needs some tougher punishment

considering all those senators who got wealthy trading on insider knowledge of COVID.

[DENVERPOPS]

4. Tougher Punishment

is laughable if it is "here and now go forward". They need to go back years and nail the Republican Senators, in particular, that took advantage of the insider covid info and made tons of trades to make sure they not only didn't lose money, but shifted to investments that would make money......

The Wall Street White guys nailed Martha to the wall for 50K. HELL, that female senator down in Georgia? traded over ten million within hours of leaving that secret insider meeting about Covid and what was coming. Interesting that her husband was president of the New York Stock Exchange......The pond scum on Wall Street and the Politicians is waist deep.

They don't have to look that hard to find the insider trading corruption. Remember when Rumsfeld bought tons of stock in the company that made CIPRO, then two days later ordered a humongous stockpiling of the drug for terrorist attacks, then days later sold all his stock in that drug company?????????????????? He created his own insider trader wealth.....

[cadoman]

5. GG has been on since July -- this isn't news AFAIK

It's paywalled but I suspect this is a standard promotional puff piece--not breaking news.