The Securities and Exchange Commission is responsible for regulating how securities are bought, sold, traded, and marketed. It is a powerful agency with a broad range of investigative power.
The SEC often begins an investigation and sometimes, there is a parallel investigation. The SEC is a civil investigative body and does not bring criminal charges. It investigates civilly and, depending on what is uncovered during an SEC investigation, the investigation may quickly become a federal criminal investigation. When someone is alleged to have violated SEC rules, it is important that they have a criminal defense lawyer involved to monitor the investigation and be aware of the potential criminal liability.