Settling Doesn't Always Net Discount, Study Says

Law360, New York (March 16, 2011, 6:21 PM EDT) -- Broker-dealers and individuals facing administrative or disciplinary charges from the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority may be better off fighting the charges rather than settling, according to a survey released Wednesday.

SEC administrative law judges and FINRA hearing panels rarely ordered higher monetary sanctions than those sought by the regulators and a majority of the time ordered less severe sanctions than those sought during settlement negotiations, according to an annual study by Sutherland Asbill & Brennan LLP.

"The perception is...
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