In keeping with the spirit of the holidays, it’s time to reflect on 2011 and think about ways to improve in the year to come. As the adage goes, those who cannot remember the past are doomed to repeat it, and looking back, there’s much both to be grateful for and to learn from. Legally speaking, reviewing a year of seminal cases, legislation and events is the best way to forecast next year for inside and outside counsel alike. To maintain a holiday tradition of sorts, for my end-of-year column here are a few takeaways from 2011 and tips for 2012, using this past year’s columns as a guide.
Deck the halls with SEC enforcement actions. In the post Dodd-Frank world, the SEC has enthusiastically brought actions against big and small violations at an unprecedented rate. Earlier this year, in “Broker-Dealers Beware,” I wrote about the SEC’s push for a uniform fiduciary standard for brokers, dealers and investment advisers when providing personalized investment advice to customers.