New SEC Admission Policy May Be Tested Sooner Than Later

Law360, New York (July 16, 2013, 2:37 PM EDT) -- On June 18, 2013, U.S. Securities and Exchange Commission Chairwoman Mary Jo White announced an aggressive change to the SEC’s long-standing policy of entering settlement agreements that allow defendants to “neither admit nor deny liability.”

White indicated that the SEC will now require admissions of liability in settlements of the most “egregious” cases. White did not identify what criteria the SEC will use to determine which cases are the most “egregious,” but added that the SEC will proceed to trial in those instances where defendants refuse...
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