SEC Cooperation Is Still More Art Than Science

Law360, New York (January 23, 2014, 1:36 AM EST) -- The quest for individual cooperation credit from the U.S. Securities and Exchange Commission is more of an art than a science, involving outcomes based largely on subjective judgments and a process that resists definition and standardization. Indeed, those who seek cooperation credit necessarily take a risk. But that risk comes with the tantalizing prospect of significant rewards — namely, the possibility of avoiding the SEC’s increasingly aggressive enforcement efforts.

Take the example of Philip Falcone. On June 27, 2012, the SEC filed securities fraud charges against...
To view the full article, register now.