We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Judge Rules Against SEC In Pay-To-Play Case

Law360 (May 7, 2007, 12:00 AM EDT) -- In a decision that could have implications for the U.S. Securities and Exchange Commission’s new municipal securities initiative, an administrative law judge has ruled against the Commission in an action brought over an alleged pay-to-play scheme.

Administrative Law Judge James T. Kelly on Thursday ruled in favor of defendants Charles LeCroy and Anthony Snell in a case filed by the SEC over a consulting agreement that allegedly violated Municipal Securities Rulemaking Board Rule G-38.

The SEC had alleged that former JP Morgan brokers LeCroy and Snell...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.