Daily Archives: December 15, 2011, 11:12 pm

SEC Appeals Rejection of Citigroup Settlement, Objects to ‘New and Unprecedented Standard”

Today, the SEC announced that it has filed papers seeking appellate review of Judge Rakoff’s Citigroup decision in the U.S. Court of Appeals for the Second Circuit. In a statement today, Enforcement Director Robert Khuzami stated today that the agency believes Judge Rakoff erroneously applied a “new and unprecedented standard” in “requiring an admission of facts — or a trial…

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Republican bill would boost SEC budget

The U.S. Securities and Exchange Commission’s fiscal 2012 budget will increase under a bill introduced by House Republicans on Thursday…. If Democrats accept the Republican bill and help pass the legislation, the SEC budget would rise to $1.3 billion compared with the agency’s current budget of $1.185 billion. Read more: Republican bill would boost SEC budget — Reuters

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