SEC Enhances its Investigative Capabilities with Powerful New Document Review Software

In January 2010, the Securities and Exchange Commission (SEC) announced that Nuix Pty Ltd had won a five-year contract to provide the agency with corporate investigations software to assist in the detection of fraud and white-collar crime.  In non-technical language, the purpose of the Nuix software is to enable to SEC to review very large quantities of documents and data in a short time.  In other words, the software is intended to speed up the investigation process, or to dramatically expand the number of investigations the SEC can pursue in the same amount of time, without additional personnel.  In the conviction that hedge fund managers can benefit from a richer understanding of the SEC investigative process and technology, the Hedge Fund Law Report recently spoke with Nuix CEO Eddie Sheehy about how the Nuix software works and how the SEC will use the software in its fraud and insider trading investigations.  The transcript of that interview is included in this issue of the Hedge Fund Law Report.

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