The Securities and Exchange Commission will continue its crackdown on private funds in 2020, according to Adam Aderton, co-chief of the SEC Enforcement Division’s Asset Management Unit.
“We will continue to see these cases” against private funds, Aderton said during a Wednesday panel at Securities Docket’s 2019 Securities Enforcement Forum in Washington.
Aderton also said he believes the agency’s Retail Strategy Task Force has been “very effective, and has been doing what they said they’d do,” which is harnessing big data to “find cases.”
The Retail Strategy Task Force is a “relatively small group that does a lot of data cranking,” Aderton said, stating the task force is also “doing work” in the asset management space as well as with the agency’s cyber and complex instruments units.
The agency’s teacher and military initiatives have also fallen to the Retail Strategy Task Force, Aderton said.
He added that the task force also brings enforcement cases, but the group “is really a resource for the rest of” the commission.