EXCLUSIVE: CFTC's Chilton Questions No-Admit Settlements

Law360, New York (July 22, 2013, 4:04 PM EDT) -- Bart Chilton, a top official at the U.S. Commodity Futures Trading Commission, told Law360 in a wide-ranging interview he believes the agency should push for defendants to admit wrongdoing in settlements, echoing earlier comments by U.S. Securities and Exchange Commission Chairman Mary Jo White.

Chilton, who has been a CFTC commissioner since 2007, said the commission should rethink its policy of allowing defendants to settle claims without admitting or denying the allegations. That policy, used widely by federal agencies including the SEC, has come under fire in recent years, with investor advocates and several prominent federal judges criticizing “no-admit, no-deny” deals...

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