Sidhardha "Sid" Kamaraju, a partner in Pryor Cashman's White Collar Defense + Investigations, Financial Institutions, and Litigation Groups, talked to Law360 about the enforcement outlook for 2023.
In "5 White Collar Enforcement Trends To Watch In 2023," Sid said that although the latter part of 2022 saw some signs of the Biden administration ramping up white collar enforcement activity, he hasn't yet seen a full pivot toward action:
White collar lawyers reported in the second half of 2022 that they were beginning to see signs of the Biden administration making good on its promise to get more aggressive on enforcement following a lull in activity during the era of former President Donald Trump.
So far, though, "there's been a lot of noise about accountability and enforcement generally," but not as much action, according to Sidhardha Kamaraju, a white collar defense lawyer at Pryor Cashman LLP in New York.
"You've seen the SEC be very aggressive, especially on the crypto front and broker-dealer issues," he added. "The DOJ has woken up a bit more, but a lot of people expected a wave of activity that hasn't quite materialized, yet."
Sid also told Law360 that he expects to see an uptick in enforcement actions related to cryptocurrency and sanctions evasion.
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