Perspective
Sep. 7, 2013
SEC makes first move to clarify new settlement policy
Chair Mary Jo White's announcement earlier this year that the SEC will abandon its decades-old no admit/no deny settlement policy raised a critical question: In what cases will the SEC require admission? By Molly White
On June 18, the chair of the Securities and Exchange Commission announced that the SEC would depart from its decades-long policy of allowing defendants to settle enforcement actions without either admitting or denying liability. Chairman Mary Jo White said that going forward, in "certain cases" the SEC would seek an admission of liability in order to settle an action. Her announcement raised the critical question: In what cases will the S...
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