SEC Settlements Will Face More Scrutiny After BofA

Law360, New York (June 30, 2010, 5:15 PM EDT) -- A federal judge's recent ruling rejecting a settlement between the U.S. Securities and Exchange Commission and a trio of alleged fraudsters may be the first sign that such settlements will face increased scrutiny in the wake of the SEC's failure in September to win approval of its deal with Bank of America NA.

On June 2, Judge Robert E. Blackburn of the U.S. District Court for the District of Colorado refused to approve a consent judgment between the SEC and three brothers accused of running a...
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