SEC Warns Attys Over Repping Multiple Clients In Fraud Probes

Law360, Washington (October 18, 2012, 9:38 PM EDT) -- A U.S. Securities and Exchange Commission official advised lawyers Thursday to exercise caution when representing multiple parties in an agency investigation, saying that taking on too many clients in one probe can cause conflicts with regulators.

Stephen L. Cohen, an associate director in the SEC's Division of Enforcement, said at Thursday's Securities Enforcement Forum that there have been many occasions where multiple witnesses will parrot each other during their investigation testimonies, including using the same words or explanations and forgetting the same details relating to the...
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