According to a report from Reuters on December 3, 2024, Melissa Hodgman, a veteran attorney in the enforcement division of the U.S. Securities and Exchange Commission (SEC), has joined the law firm Freshfields as a partner. This transition is part of a wave of lawyers moving from government to private practice before Donald Trump, the incoming president of the Republican Party, takes office next month.
During her 15 years at the SEC, Hodgman played a crucial role in imposing a record $100 million penalty on Ernst & Young for auditing violations and misinformation to investigators. Under President Biden's administration, the SEC has intensified its pursuit of major cases in the crypto space, launching a series of long-term investigations into the use of personal devices for business discussions on Wall Street, including apps like WhatsApp.
Notably, under the leadership of Gurbir Grewal, over 2,400 enforcement actions have resulted in more than $20 billion in fines and other payments. Hodgman's departure comes amid significant changes at the SEC, as Chairman Gary Gensler is also expected to leave his position in January.
Along with lawsuits and penalties in the crypto space, investors in altcoins need to pay particular attention to these legal developments. The coin market, not just Bitcoin, is increasingly facing close scrutiny from financial regulatory agencies.
Stay tuned for the latest updates on the coin market and altcoins, along with the legal developments affecting this crypto market. Follow Reuters to not miss the hottest information.
Source: Reuters.