U.S. SEC’s Piwowar takes a swing at ‘broken windows’ enforcement policy

A top official at the U.S. Securities and Exchange Commission on Tuesday criticized the “broken windows” enforcement strategy being deployed by the agency, saying it hinders the agency’s ability to set priorities and have robust, healthy markets. In a speech at the annual Securities Enforcement Forum, SEC Republican Commissioner Mike Piwowar took aim at the approach that SEC Chair Mary Jo White has used, which entails pursuing cases against both big and small violations. “A broken windows approach to enforcement may not achieve the desired result,” said Piwowar. “If every rule is a priority, then no rule is a priority.” More on Reuters here.