The National Law Journal Publishes Policy Proposal Urging President Trump to Strengthen the SEC
March 7, 2017
On March 6, 2017, The National Law Journal published an essay principally authored by BLB&G’s Dave Kaplan urging President Trump to rescind Executive Order 13433, which prevents the SEC and other federal agencies from partnering with private firms on a contingent-fee basis.
The piece, entitled “President Trump, Let’s Strengthen the SEC,” argues that allowing the SEC to partner with private firms to prosecute complex litigation alleviates the financial and resource constraints that effectively limit the SEC’s oversight functions. Characterized by experts as “overstrained and underfunded,” the SEC has been unable to pursue many challenging and meaningful enforcement actions since the executive order went into effect in 2007, failing for instance to “prosecute a single case against a top bank executive for financial crisis-era misconduct.”
Instead, the author contends that by restoring the SEC’s ability to enter public-private partnerships and “letting the free market do what it does best, efficiently allocating resources to solve problems,” the SEC can refocus its resources on other objectives and transfer the financial risk of prosecuting complex, extended litigation to private firms, all “at no cost or risk to the American taxpayer.”
The author suggests that rescinding the order would not only be in line with the Republican Party platform, which praises the efficiencies of public-private partnerships as essential to “save the taxpayers’ money,” but that it would also fulfill Trump’s campaign promise to “police markets for force and fraud” and hold “both Wall Street and Washington accountable.”
Mr. Kaplan prosecutes direct and class action securities, and derivative and general business litigation on behalf of the firm’s institutional investor clients.
Also of Interest
The National Law Journal Names BLB&G Winner in Financial Litigation as part of its “Elite Trial Lawyers” Practice Area Awards
November 8, 2016
The National Law Journal Names BLB&G "Elite Trial Lawyers" and Top Mortgage-Backed Securities Litigation Firm in the Nation
December 8, 2015
The National Law Journal Again Honors BLB&G as “Elite Trial Lawyers” Practice Area Award Winner
December 6, 2016
The National Law Journal Names Mark Lebovitch and Jeroen van Kwawegen 2018 Plaintiffs’ Lawyers Trailblazers
The National Law Journal Names Max Berger a Litigation Trailblazer
The National Law Journal Once Again Names BLB&G Among America's "Elite Trial Lawyers"
September 21, 2015
The National Law Journal Again Names BLB&G Among the Nation’s "Elite Trial Lawyers"
October 18, 2016
The National Law Journal Profiles BLB&G – Winner of Financial Litigation Elite Trial Lawyers Award
December 19, 2016
Mark Lebovitch Selected National “Plaintiff Attorney of the Year” by Benchmark
February 11, 2016