Overview
Reuters quoted Steptoe New York partner Mike Miller in a November 16 article titled “US State Securities Regulators Gird for Action During Trump Era.” The article discusses how state securities regulators might have to fill any void in policing banks and finance companies if President-elect Donald Trump and a Republican-controlled Congress roll back reforms introduced after the financial crisis. For example, New York has the Martin Act which gives prosecutors more leeway to bring charges. Several white-collar defense lawyers say they expect to use the Martin Act more often during the Trump presidency.
Mr. Miller says, “Every time there has been a noticeable drop in SEC enforcement, New York prosecutors and regulators have used the Martin Act to great effect to police the securities market.”
The full article can be read at Reuters.
