The Securities and Exchange Commission is heading on a collision course with the federal judge who thinks the agency has been too lenient on big banks accused of misdeeds. The SEC’s enforcement staff is expected to recommend to the five-person commission leading the agency that it vote to appeal last month’s rejection by U.S. District Judge Jed S. Rakoff of a proposed $285 million settlement between the SEC and Citigroup Inc., according to people familiar with the situation.
Read more: SEC Cops Want to Fight U.S. Judge — WSJ.com
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