SEC's Guilt Admission Policy May Bring Pricey Trials

Law360, New York (July 3, 2013, 1:40 PM EDT) -- In a significant change of policy, newly appointed U.S. Securities and Exchange Commission Chairwoman Mary Jo White announced recently that, in certain cases, the SEC would require defendants to admit to wrongdoing or else face trial.

This is a potentially drastic and far-reaching departure from the SEC’s long-standing practice of utilizing “neither admit nor deny” settlements, which allow companies and individual defendants to resolve enforcement actions without having to make admissions that could subject them to potential collateral criminal or civil liability and other adverse consequences....
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