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SEC Denies Bid By Ex-AMEX Chief To Drop Case

Law360 (December 17, 2007, 12:00 AM EST) -- Refusing to concede defeat, the U.S. Securities and Exchange Commission has rejected a call by the former chairman of the American Stock Exchange to affirm a judge's decision to toss out charges of noncompliance.

The SEC dismissed Salvatore F. Sodano's motion for summary affirmance of the administrative law judge's August ruling, saying the judge never considered the merits of the case and based his decision on a flawed interpretation of the Exchange Act.

The commission's enforcement division said it remained determined to censure Sodano for his...
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