Peter Altman Quoted in The Wall Street Journal on Drop in Enforcement Penalties Under Trump Administration
Peter Altman, senior counsel in the litigation practice at Akin Gump, has been quoted in The Wall Street Journal’s Risk & Compliance Journal article “The Morning Risk Report: Does Fine Drop Portend More Lenient Enforcement?” The article reports that, during the first six months of the Trump administration, there has been a steep drop in penalties from Wall Street regulators.
Altman attributed this to comments by officials at the Securities and Exchange Commission, including Chairman Jay Clayton, pointing to a “re-calibration” of the way the SEC handles corporate penalties. Under Clayton’s predecessor, Altman noted, there was a big push for corporate cooperation in investigations. “It could be that that push,” he said, “plus Mr. Clayton’s views on corporate penalties, will lead to more lenient financial remedies imposed against companies.”