In this article, Pravin Rao, Jose Lopez, Jon Buck and Caryn Trombino highlight the SEC's enforcement priorities in 2012, as presented at "The SEC Speaks" conference held in Washington, DC, from February 24-25, 2012.  The SEC's record 735 enforcement actions in 2011 has prompted a renewed rallying cry as the agency emerges from its Dodd-Frank rulemaking efforts with an eye toward ratcheting up its proactive risk-based initiatives and continued pursuit of aggressive enforcement efforts.