Eric Pruitt Quoted in Bond Buyer Article About Decreased SEC Municipal Enforcement in 2025
Eric Pruit, a Chicago-based partner and chair of the Quarles & Brady Government Enforcement Defense and Investigations team, spoke with The Bond Buyer about the decrease in Securities and Exchange Commission (SEC) municipal enforcement in 2025.
The article notes that the SEC has totaled only three municipal enforcement actions this year, all in the first half of 2025. Pruitt pointed out that the reason for the decline is due to SEC employee attrition.
An excerpt:
The decline in municipal enforcement actions seen this year "is consistent with an overall significant decrease in SEC enforcement actions since 2023," added Eric Pruitt, a partner at Quarles & Brady.
"A primary driver of this decline in enforcement activity is the significant increase in employee attrition at SEC beginning in 2024, including significant numbers of terminations of probationary employees as well as early retirements and resignations of experienced attorneys and staff," said Pruitt, a former assistant U.S. attorney.