{"id":5440,"date":"2013-05-24T00:00:00","date_gmt":"2013-05-24T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/05\/sec_securities_policy_roundup"},"modified":"2022-05-04T13:39:10","modified_gmt":"2022-05-04T18:39:10","slug":"sec-securities-policy-roundup","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-securities-policy-roundup\/","title":{"rendered":"SEC Securities Policy Roundup: Neither Admit, Nor Deny Policy, Pursuit of Injunctions for Misconduct, and SRO Oversight Get Closer Scrutiny"},"content":{"rendered":"

New SEC Chairman Reviews \u201cNeither Admit, Nor Deny Wrongdoing\u201d Policy <\/strong><\/p>\n

Securities and Exchange Commission Chairman Mary Jo White is taking a closer look at the agency\u2019s practice of letting defendants that settle cases with it not have to admit to or deny the allegations. Critics of the policy have been vocal about how they believe that this lets violators get out of having to be accountable for any wrongdoing while not doing much to prevent them from repeating such actions again. Currently, the U.S. Court of Appeals for the Second Circuit is trying to determine whether a district court acted properly when it turned down the $285M securities settlement<\/a> reached between Citigroup (C) <\/a>and the SEC over the financial firm\u2019s involvement in a 2007 collateralized debt obligation.<\/p>\n

Testifying in front of Congress in her new role as SEC Chairman for the first time, White spoke about how despite her decision to review the practice, she does believes the policy has saved agency resources while giving investors\u2019 their money back much quickly than if wrongdoing had to be proven.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

New SEC Chairman Reviews \u201cNeither Admit, Nor Deny Wrongdoing\u201d Policy Securities and Exchange Commission Chairman Mary Jo White is taking a closer look at the agency\u2019s practice of letting defendants that settle cases with it not have to admit to or deny the allegations. Critics of the policy have been vocal about how they believe […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760,3761],"tags":[],"class_list":["post-5440","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-securities-and-exchange-commis"],"yoast_head":"\nSEC Securities Policy Roundup: Neither Admit, Nor Deny Policy, Pursuit of Injunctions for Misconduct, and SRO Oversight Get Closer Scrutiny — Investor Lawyers Blog — May 24, 2013<\/title>\n<meta name=\"description\" content=\"New SEC Chairman Reviews \u201cNeither Admit, Nor Deny Wrongdoing\u201d Policy Securities and Exchange Commission Chairman Mary Jo White is taking a closer look at — May 24, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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