SEC Nearly Always Unanimous On Whether To Sue: Records
By Martin O'Sullivan (October 27, 2016, 8:39 PM EDT) -- The U.S. Securities and Exchange Commission votes with near-constant harmony in choosing to bring federal cases against individuals and companies, according to internal records released by the agency.
The SEC on Wednesday published more than three years of records detailing how commission members voted in choosing to bring federal court cases against more than 1,400 defendants. Of the approximately 400 cases, all were approved, with only four receiving a negative vote from a single commissioner.
There were also 21 cases in which one or more commissioners disagreed with a certain aspect of the case, such as a punitive industry bar, but...
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