SEC Head White Defends No-Admit, No-Deny Policy

Law360, New York (May 7, 2013, 5:34 PM EDT) -- New U.S. Securities and Exchange Commission Chairman Mary Jo White on Tuesday expressed support for the agency’s controversial practice of settling cases without requiring defendants to admit wrongdoing, but told U.S. House of Representatives lawmakers the policy was under review.

In her first appearance on Capitol Hill as chairman, White urged the House Appropriations Committee to approve the White House’s $1.7 billion budget request for the SEC. She also fielded questions on topics including swaps regulation, money market fund reform and the SEC’s policy of allowing defendants...
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