In remarks to the Securities Enforcement Forum West 2024, Gurbir S. Grewal, Director of the SEC Division of Enforcement (Division), stressed the benefits of meaningful cooperation with the Division and discussed five principles of effective cooperation: self-policing, self-reporting, remediation, cooperation and collaboration. Although the speech did not break significant new ground, it reconfirms the Division’s approach to cooperation and the potential benefits available to targets of SEC investigations. Grewal spoke in his official capacity as Enforcement Director but stressed that his remarks did not necessarily reflect the views of the SEC, its Commissioners or its staff. This article discusses the key takeaways from the speech. See “Speeches Outline the Ethos, Direction and Priorities of the SEC’s Division of Enforcement Under Gurbir Grewal” (Jan. 13, 2022).