According to the SEC’s complaint, Wu obtained millions of dollars of ill-gotten gains in incentive compensation as a result of his fraud. Wu then used a portion of his compensation to purchase a multimillion-dollar apartment in Manhattan. The Wu parallel actions provide strong indication that coordination between the SEC and its federal criminal counterparts at SDNY, the Department of Justice, and other U.S. Attorney’s Offices around the country has not gone away. In fact, the parallel actions filed against Wu reveal alignment with historical practices of active and strategic information sharing and planning to investigate and file actions on the same day. The main takeaway from the O’Gara parallel actions is that the Division of Enforcement under Chair Atkins may continue to file SEC actions after the related criminal cases have been filed, which some claim is akin to “piling on.”[1] https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26398; https://www.justice.gov/usao-sdny/pr/quant-investment-management-firm-charged-securities-and-wire-fraud.