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SEC To Lean On 'Controlling Persons' Law In Fraud Cases

Law360, New York (May 19, 2014, 4:32 PM EDT) -- The U.S. Securities and Exchange Commission's leader said Monday that the agency will ramp up its use of a federal law that allows it to target “controlling persons” after a recent U.S. Supreme Court ruling undercut the scope of a better known anti-securities fraud statute.

SEC Chair Mary Jo White told a room of white collar defense attorneys at the New York City Bar Association that the agency would also push harder to win admissions of wrongdoing in future settlements as part of new strategies to...
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