As more regulators pile the lawsuits on firms, the chance of overlapping investigations quickly escalates, which could disrupt regulatory probes and lead to unnecessary lawsuits, the Securities and Exchange Commission cautioned. Per Bloomberg:
“A particular firm could be sued by seven different regulators,” Scott Friestad, associate director of the SEC’s enforcement division, said today at a conference in London. “There’s a risk of all piling on and there needs to be care that it makes sense.”
Friestad added in the article that “sometimes it feels like there are too many cooks in the kitchen.”
