SEC To Spare Some Options Backdaters

Law360, New York (February 12, 2007, 12:00 AM EST) -- Some companies embroiled in the options backdating scandal will get off scot free, the U.S. Securities and Exchange Commission has admitted.

During a panel discussion at the regulator's annual conference Friday, associate director of enforcement Antonia Chion said the SEC would not necessarily bring action against every company implicated in the scandal.

Despite acknowledging the extent and enormity of the problem, with SEC Chairman Christopher Cox likening it to a “pandemic of crooked accounting,” Chion said the Commission would consider the level of proof and severity...
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