We Can Do Better Than This, Can’t We Mr. Khuzami?

As I tell my public policy students — change happens. In fact, it is inevitable. Clearly the fact that something has gone on for decades is not a meaningful answer to the criticism of the SECs enforcement practices by Judge Rakoff.

Mr. Khuzami in his press release also claims that without admitting or denying settlements are the most effective way for the SEC to leverage its limited resources. I would suggest however that there is a much better way to do this. The SEC needs to put a few serial violators out of business through its administrative remedies. That, rather than boxcar penalties that are now just a cost of doing business, will have a true deterrent effect….

via We can do better than this, cant we Mr. Khuzami?.