Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
SEC May Seek Guilt Admissions In Some Malfeasance Cases
WASHINGTON (6/20/13)--Financial wrongdoers may soon be forced to admit their crimes as a part of the case settlement process, Securities and Exchange Commission Chairman Mary Jo White said this week.

White reportedly made her remarks at The Wall Street Journal's CFO Network Conference in Washington, D.C.

She said the agency would push for admissions of fault in the worst of cases, such as those with high degrees of investor harm.

However, White told reporters the change should not be interpreted as a criticism of the SEC's current settlement policy. The SEC will still reserve the right to allow alleged criminals to settle their cases without admitting or denying fault.

The new policy will not apply to cases that are already in the settlement process, White told Bloomberg.

One such case is a $285 million settlement the SEC reached with Citibank. U.S. District Court Judge Jed Rakoff rejected that suit in late 2011, saying the public should know more about Citigroup's actions.


RSS





print
News Now LiveWire
#Maine #creditunion membership growth continues record pace http://t.co/yFRur4TQ0x
11 hours ago
.@TheNCUA closes N.Dade Community Development FCU,Miami Gardens, Fla. determining CU violated some charter provisions,bylaws & fed. rules.
13 hours ago
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
15 hours ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
15 hours ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
16 hours ago