Fenwick Partner Michael Dicke Quoted on the Value of Voluntary Self-Disclosure

Attorneys are persistently advocating for more clarity regarding the standards and benefits of voluntary self-disclosure, a year after a controversial speech by Gurbir Grewal, the director of the SEC's Division of Enforcement, on cooperation and defense counsel delay tactics. Grewal highlighted the advantages of cooperation and the potential for more lenient terms for clients who genuinely cooperate. However, attorneys are expressing skepticism about the incentives for cooperation and the lack of transparency in the evaluation process.

At this year’s Securities Enforcement Forum West conference, Fenwick partner Michael Dicke discussed his concerns about the impact of the guidance saying it is a “tough pill to swallow.” The Recorder highlighted this and other commentary in a roundup piece with key takeaways from the conference.

To read the full article, click here.