SEC to Seek More Admissions of Fault – WSJ

The Securities and Exchange Commission intends to make companies and individuals admit wrongdoing as a condition of settling civil charges in certain cases, or be forced to fight the charges in court, the agency’s Chairman Mary Jo White said Tuesday.

The move marks a watershed change to the SEC’s decades-old policy of allowing companies and individuals to settle charges without admitting or denying liability…. Decisions will be made on a “case-by-case” basis, Ms. White said. But she added the agency intends to target cases of egregious intentional conduct or widespread harm to investors.

via SEC to Seek More Admissions of Fault – WSJ