Ex-Amex Chief Could Still Face SEC Censure

Law360, New York (January 8, 2009, 12:00 AM EST) -- The acting secretary of the U.S. Securities and Exchange Commission has ruled against the ex-chairman of the American Stock Exchange in the former official's quest to affirm an administrative judge's earlier decision to toss charges of noncompliance brought by the commission's Enforcement Division.

Right before Christmas, Acting Secretary Florence E. Harmon sided with the SEC's enforcement division, choosing to reverse an administrative law judge's earlier ruling letting Salvatore F. Sodano off the hook.

“It is ordered that the initial decision be, and hereby is, reversed and...
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