So its nice to see the Commission becoming a bit more assertive and fight back against these sort of challenges. The appeal of Judge Rakoff’s decision to reject the Citigroup settlement and more broadly reject the use of the neither “admit nor deny” approach was a case in point. Its risky appealing bad rulings by the district court. Bad district court cases can become bad appellate court cases. But this time, the SEC decided that it could not let the matter rest. Even judges need to know that the SEC will fight back.
With that in mind, we note a small but important series of examples of the growing verve at the SEC….
via The SEC Fights Back — theRacetotheBottom