New York partner John Carney, co-leader of the firm's national White Collar Defense and Corporate Investigations group, was quoted in the January 20, 2010, Compliance Week article, "SEC Enforcement Division Gets Sweeping Makeover."
According to the article, the Securities and Exchange Commission (SEC) is making good on its promise to galvanize its enforcement efforts, implementing new policies to win cooperation from individuals and corporations during its investigations and a revamped personnel structure aimed at helping the agency ferret out complicated wrongdoing more quickly. The changes are in response to a torrent of criticism over how the SEC failed to identify the massive Ponzi scheme carried out by Bernard Madoff for decades, despite numerous warnings from tipsters, according to the article.
"These changes have the capacity to radically change the way that companies and their officers and employees defend in SEC investigations," said Carney, who formerly worked at both the Department of Justice and the SEC.