More judges reject SEC settlements lacking admission of wrongdoing

04/15/2013 | Economist (tiered subscription model), The

U.S. District Judge Jed Rakoff surprised many when he refused to rubber-stamp a Securities and Exchange Commission settlement with Citigroup that didn't require the bank to admit wrongdoing. Other judges have begun following his example, forcing the SEC to take another look at its settlements, according to The Economist. The situation presents SEC Chairwoman Mary Jo White with yet another challenge as she tries to rebuild trust in the regulator, the magazine notes.

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Economist (tiered subscription model), The

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