SEC Roundup

Is the SEC finally opening up? Co-hosts Nick Morgan and Tom Zaccaro welcome former SEC Associate Director Lori Echavarria to break down the first major update to the SEC Enforcement Manual in nearly ten years. From expanded Wells response times to the return of simultaneous settlement waivers, discover how these "user manual" changes signal a new era for 2026 investigations.

Is the SEC entering its "Moneyball" era? Co-hosts Nick Morgan and Tom Zaccaro sit down with Stan Yakoff, founder of RegLabs.ai, to discuss the infiltration of AI at the Commission. From the risk of "AI investigative slop" to the RegLab’s tools that help you stay ahead of compliance requirements, this episode explores the high-tech future of compliance, enforcement, and the dangerous future of AI-enabled regulators.

Host Nick Morgan and an expert panel break down the four most consequential SEC and financial cases of 2026. From the "Shadow Trading" appeal in the Ninth Circuit to a Supreme Court showdown over $5 billion in stuck funds, learn how these rulings will impact investors, crypto platforms, and the future of enforcement.

How does the SEC decide on civil penalties? According to our guests, it’s more arbitrary than you think. Former SEC attorney David Slovick and Vanderbilt law professor Phil Lieberman join to unpack their eye-opening research on inconsistent fines, flawed incentives, and what real reform could look like.

The SEC wants the Supreme Court to approve a powerful enforcement tool—even when there’s no investor harm. In this episode, Nick Morgan and Thomas Zaccaro are joined by Kari Axel to unpack what this means for innovation, fairness, and the future of securities enforcement.

The SEC’s attempt at a major cybersecurity enforcement precedent against SolarWinds failed spectacularly. CISO Tim Brown and his lawyers detail the landmark legal win that secured an abrupt, complete dismissal of the case.

Why did SEC enforcement activity suddenly drop off a cliff? Nick and Tom host two former SEC economists, now with the Brattle Group, who crunched the numbers and uncovered a "dramatic decline" in cases that points to a seismic shift in policy under the new Atkins administration.

What's it like to get a permanent "scarlet letter" from the PCAOB? Tom Zaccaro and Nick Morgan host four professors whose new paper, based on candid interviews with former staff and sanctioned auditors, reveals a "punitive" system. They expose how a "numbers game" incentive structure is failing to protect investors and disproportionately targets small firms.

Are quarterly earnings reports driving companies away from U.S. markets? Harvard’s Hal Scott thinks it's time for reform—on reporting, arbitration, and more.

Is FINRA protecting day traders and new investors—or setting them up to fail? Ross Cameron, the founder of Warrior Trading, joins Tom and Nick to explain why the $25K PDT rule backfires, how it pushes new traders into riskier waters, and what smart reform could look like.

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