Securities Litigation Partner Discusses SEC's Public Pension Activity

The Bond Buyer | September.26.2013

Securities litigation and regulatory enforcement partner Elaine Greenberg sat down with the Bond Buyer to discuss SEC activity involving public pensions. Greenberg recently joined Orrick from the SEC where she served as the Chief of the Enforcement Division's Specialized Unit for Municipal Securities and Public Pensions.

“The status quo is clearly unsustainable and the call for pension reform has been great. I witnessed first-hand the lack of transparency regarding funding of public pensions. This lack of transparency resulted in securities fraud,” she said.

Greenberg continued, “Whatever path one may choose one thing is clear; there must be transparency. It is incumbent that market participants take their disclosure obligations under federal securities law very seriously.”

“Investors will perceive there is more fairness in the markets because they will be operating on a level playing field,” she added.