SEC Defends No-Admit, No-Deny Policy In $600M SAC Deal

Law360, New York (April 4, 2013, 4:07 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday again urged a New York federal judge to approve its $600 million insider trading settlement with SAC Capital Advisors LP affiliate CR Intrinsic Investors LLC, defending its use of its controversial no-admit, no-deny policy.

The SEC said in a letter to U.S. District Judge Victor Marrero that its use of no-admit, no-deny consent agreements are in the public interest and supported by a raft of recent, similar settlements, including a $14 million agreement signed just last Friday with...
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