On July 19, the SEC announced the creation of a new council to combat securities fraud across federal, state, and local agencies. The new council, named the Interagency Securities Council, will hold quarterly meetings to discuss scams, trends, and mitigation strategies to improve collaboration among agencies, share information, and provide resources to officials who may not have experience with securities law.

The council will include representatives from over 100 departments and agencies, including the DOJ, state attorneys general offices, and local police departments. It will also serve as a platform for sharing information and best practices among law enforcement agencies. The SEC will lead the council’s efforts and stated that the council will enhance its ability to protect investors by fostering stronger partnerships with other law enforcement agencies and improving information sharing.