Representatives from the Securities and Exchange Commission the House Committee on Financial Services on Tuesday that they continue their probe into companies and executives who engage in corporate or financial misconduct.

In the agency’s testimony, a SEC representative said, “The SEC’s Enforcement Division is significantly larger than it was five years ago. Our staff are engaged in combating abuses ranging from boiler rooms to Ponzi schemes to stock option grants to fictitious employees. We are pursuing individuals and firms who have falsified corporate documents, engaged in self-enrichment to the detriment of their investors, and attempted cover-ups of this sort of conduct.”
The SEC went on to specify that the agency is investigating cases involving Internet scams, pump-and-dump schemes, prime bank frauds, lying executives who fool auditors, as well as accountants, lawyers and other persons of interest who are involved in fraud. The agency also indicated that special groups within the SEC are focused on risks related to hedge fund insider trading.
Click here to read the SEC’s full testimony in front of the House Committee on Financial Services.