Rakoff Reversal Won't Defang Judicial Review Of SEC Deals

By Brian Mahoney (June 4, 2014, 8:39 PM EDT) -- The Second Circuit rebuked Judge Jed Rakoff's historic rejection of the U.S. Securities and Exchange Commission's settlement with Citigroup Inc. on Wednesday, but it also made clear that judges should not merely "rubber-stamp" agency settlements, issuing a clarified standard of review that experts say retains an important — if limited — role for the judiciary....

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