Judge Rakoff Tees Up a Major Battle on the SEC’s Standard Settlement Language and Procedures

I wrote back in March that “the next SEC settlement that is brought before Judge Rakoff could be quite interesting” and that turned out to be quite accurate yesterday when Judge Rakoff was asked to approve the SEC’s recent settlement with Citigroup. This time, Judge Rakoff seems to be gearing up for an even bigger battle, and has ordered the parties to answer nine extremely difficult questions at a hearing on November 9.

Read more: Judge Rakoff Tees Up a Major Battle on the SEC’s Standard Settlement Language and Procedures — Enforcement Action