SEC's Top Enforcer Says Admissions Are Back On The Menu
By Dean Seal (October 13, 2021, 10:04 PM EDT) -- The U.S. Securities and Exchange Commission's top enforcement officials signaled Wednesday that the agency will be pivoting back toward the practice of requiring defendants to admit wrongdoing in certain enforcement action settlements.
Gurbir Grewal, the SEC's enforcement director, kicked off his division's panel at Practising Law Institute's annual SEC Speaks conference with a warning that the regulator is poised to get aggressive on corporations and gatekeepers with a range of remedies, "particularly prophylactic ones."
Under the previous administration, the SEC shied away from seeking admissions in favor of its longstanding but controversial no-admit, no-deny policy. But Grewal said Wednesday that the...
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