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The SEC and FINRA’S Use of Big Data in Investigations . . . And The Implications for Defense Counsel  

Author:  Robert A. Cohen.; Angela W. Guo.

Source: Volume 53, Number 11, June 1 2020 , pp.125-130(6)

Review of Securities & Commodities Regulation

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In recent years, the SEC and FINRA have created a number of new units to increase their capacity to use data analytics in market surveillance and policy/rulemaking activities. In this article, the authors summarize these units, their objectives, and the types of investigations that most prominently use data analytics. They close with a discussion of the new challenges that defense lawyers face as regulators increasingly use big data in their enforcement actions.

Keywords: Office of Market Intelligence; Market Abuse Unit; Advanced Relational Trading Enforcement Metric Investigation System; Trade Surveillance

Affiliations:  1: Davis Polk & Wardwell LLP; 2: Davis Polk & Wardwell LLP.

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