Securities
Jan. 24, 2014
No admit, no deny
Chair Mary Jo White's announcement last year that the SEC was abandoning its decades-old no admit/no deny settlement policy raised a critical question: In what cases will the SEC require admission? By Molly White
Last year, Securities and Exchange Commission Chair Mary Jo White announced that the SEC would depart from its decades-long policy of allowing defendants to settle enforcement actions without either admitting or denying liability. 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 SEC require defe...
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