The first report, which covers the S.E.C. 's inspections and examinations office, Outlines 37 improvements that revamp nearly every aspect of the division's operations.
The S.E.C. alleges Tang sent e-mails to investors to persuade them to trust him with even more of their money and allow him to continue trading on their behalf.
For those who were registered investment advisers, they may be subject to an S.E.C. enforcement action for breach of fiduciary duty to their clients.
