Commissioner weighs in on SEC's new settlement policy

06/27/2013 | Reuters

Daniel Gallagher, a member of the Securities and Exchange Commission, said the agency should use its new settlement policy in select cases, such as those involving violators who will likely be repeat offenders. The SEC has made changes to its settlement policy, which historically allowed defendants to neither admit nor deny the claims against them. Now, the SEC will strive to extract admissions of wrongdoing in certain cases.

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