It was a year ago today that the city of San Diego made history by entering into a settlement with the Securities and Exchange Commission for securities fraud.
At the time, the SEC made a point to state that it wasn’t done. Investigations into individuals would continue, the federal regulators said.
From our story last year:
The announcement of a settlement with the city marks the first public action in one of the SEC’s largest investigations into a governmental entity. It ends one chapter of the 33-month investigation into City Hall and removes one of many clouds that have long hung over City Hall. The SEC indicated it isn’t finished, however, noting that investigations into individuals and other entities who may have committed securities fraud are ongoing.
But the SEC has been quiet in the last year. No official, current or former, has received any public sanction from the regulators.
In April, Council President Scott Peters told our Evan McLaughlin that he believed he and other council members wouldn’t be charged by the SEC.