Paul Kisslinger, Rebecca Stoddard Pen Law360 Expert Analysis on SEC Enforcement Priorities for 2023

Washington, D.C. (January 27, 2023) - Washington D.C. Partner and Chair of Lewis Brisbois’ SEC Enforcement & Litigation Practice Paul Kisslinger and Associate Rebecca Stoddard recently co-authored an Expert Analysis article for Law360, titled “6 Top Priorities For SEC Enforcement In 2023.” The article analyzes six areas that the authors expect the U.S. Securities and Exchange Commission (SEC) to focus on during the coming year and provides guidance for companies seeking to avoid SEC inquiries.

Mr. Kisslinger and Ms. Stoddard open the article by stating, “Senior U.S. Securities and Exchange Commission officials have made it quite clear in recent public statements that they are determined to be very aggressive in enforcing securities regulations in 2023.” Noting that “the agency has put its money where its mouth is,” the authors point out that the SEC’s recent actions in increasing staffing and filing suits in priority areas, “foreshadow a flood of new enforcement activity in the coming year.”

The authors go on to predict that although the SEC will continue to focus upon “age-old enforcement concerns, such as preventing insider trading,” the agency will likely prioritize issues that “arise in the wake of front-page, news-grabbing topics in envelope-pushing areas” during 2023. Mr. Kisslinger and Ms. Stoddard identify these areas as (1) cryptocurrencies, (2) private funds and fund advisors, (3) executive compensation clawbacks, (4) ESG disclosures and compliance, (5) cybersecurity risk disclosures and compliance, and (6) Rule 10b5-1 plans. The authors provide a detailed discussion and analysis of each area of enforcement, as well as recommendations for companies that aim to avoid SEC inquiries and to remain in compliance with relevant laws.

Mr. Kisslinger joined Lewis Brisbois earlier this month as chair of its newly established SEC Enforcement & Litigation Practice after spending almost two decades with the SEC, most recently as its assistant chief litigation counsel. He also serves as co-chair of the firm's Securities Class Action Defense Practice. Mr. Kisslinger has extensive experience in the private and public sectors successfully guiding clients through the choppy waters of regulatory enforcement actions brought by securities and other financial services regulators, internal and external investigations, and legislative inquiries.

Ms. Stoddard is a member of Lewis Brisbois’ Administrative Law & Regulatory and Environment, Land, and Natural Resources Practices. She assists clients with complex business litigation matters involving administrative and environmental law, and provides guidance on regulatory and compliance issues.

Read the full article on Law360 here (subscription may be required) or view a PDF version here.