Although there has been significant discussion in securities law circles concerning what the Securities and Exchange Commission (SEC) will look like under President Joe Biden’s SEC chair nominee Gary Gensler, most commentators agree that Gensler’s SEC will have an increased focus on enforcement. Early enforcement actions and legislative changes in 2021 point to the key areas and tactics for the SEC’s Division of Enforcement, including, but not limited to, an enhanced focus on environmental, social, and governance (ESG) and climate change issues; an increased reliance on disgorgement awards, particularly in insider trading and digital currency cases; and continued actions against companies that engage in unregistered offerings of digital asset securities, fail to adequately disclose executive compensation in the form of perquisites (“perks”), violate Regulation Fair Disclosure (Regulation FD), or provide misleading disclosures related to the COVID-19 pandemic’s effects on business or operations. Continue reading >