There are many discussions occurring throughout the nation and the world about how to prevent a repeat of the financial crisis. Those discussions involve improvements in supervision of financial institutions, market structure, corporate governance, regulatory oversight and risk management, among other things. These are all important topics worthy of significant debate. We are here today because of a critical part of that debate — holding responsible those who violated the law during the financial crisis and deterring future misconduct through vigorous law enforcement efforts. To do that important job effectively, we have to recognize that financial fraud schemes can be sophisticated, difficult to detect, and span multiple jurisdictions.