SEC Won't Pull Punches After Latest Loss, Attys Say

Law360, New York (November 13, 2012, 7:40 PM EST) -- The U.S. Securities and Exchange Commission is on the hot seat after losing another trial against an individual tied to the financial crisis, but attorneys say Monday's defeat against money manager Bruce Bent isn't likely to make the agency gun-shy.

A New York federal jury dismissed the SEC's claims against Bent and all but one claim against his son, Bruce Bent II. The pair were accused of lying to investors in an attempt to save Reserve Management Co. Inc.'s $62.5 billion money market fund in the...
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