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| 2001 News and Press Releases |
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HEADLINE ARCHIVED:
SEC Turns Up Heat On Stock Frauds
By: James Kelleher (CREDIT: Orange County Register)
Tulsa World. Sunday, October 7, 2001
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Excerpt: Rosalind Tyson, the attorney tapped as acting head of the Security and Exchange Commission's Pacific Regional Office, has spent her 19-year SEC career bringing financial fraudsters to heel. During that time, a lot has changed at the commission. The chief improvement, Tyson says, has been an aggressive enforcement policy that gives SEC investigators a better chance of catching the bad guys before they scoot with their ill-gotten loot. But the swindles that ensnare most investors remain depressingly familiar. "You know, I'm not seeing any new scams," Tyson said. "They are the same old recycled ones." Back in 1982, when Tyson joined the SEC four years out of Stanford Law School, the commission often found itself intervening long after investors had been hoodwinked and the bad guys had retired to the Cayman Islands. Today, Tyson and others say, the SEC is able to intervene more quickly to shut down frauds, like boiler rooms or bucket shops pushing bogus stocks, by using temporary restraining orders and by freezing assets.
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