SEC Unveils Cross-Border Task Force to Combat Fraud and Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission (SEC) has announced a new international enforcement initiative: the Cross-Border Task Force.

🔑 Mandate:

Investigate foreign-based fraud, including “pump-and-dump” and “ramp-and-dump” operations.

Target gatekeepers — underwriters, auditors, and intermediaries enabling bad actors.

Examine how foreign government control may factor into securities violations.

SEC Chairman Paul Atkins stated:

“We welcome global companies into U.S. capital markets, but we will not tolerate bad actors exploiting borders to avoid investor protections.”

📊 Next Steps:

The task force consolidates SEC investigative efforts, arming the agency with more tools to combat transnational fraud.

On Sept 29, the SEC and the Commodity Futures Trading Commission (CFTC) will hold a joint roundtable to discuss regulatory harmonization.

👉 Takeaway:
This initiative signals a tougher stance against global fraud networks. For crypto and digital assets — where pump-and-dump schemes are rampant — it marks a significant step toward protecting U.S. investors.