Regulators, Lawmakers Stand By No Admit Settlements

Law360, New York (May 17, 2012, 4:46 PM EDT) -- House lawmakers indicated Thursday that they would not force securities and bank regulators to abandon their policy of settling cases without obtaining admissions of guilt despite recent judicial criticism of the no-account deals.

In a hearing before the House Financial Services Committee, officials from the U.S. Securities and Exchange Commission, the Federal Reserve, the Federal Deposit Insurance Corp. and the Comptroller of the Currency all testified to the importance of retaining the flexibility to accept settlements in which defendants neither admit nor deny liability.

The deals...
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