SEC nominees back ending ‘no admit no deny’ settlements — InvestmentNews

Two Securities and Exchange Commission hopefuls told lawmakers today that they support ending enforcement settlements that allow targets to avoid admitting or denying the charges.

In a Senate Banking Committee hearing on their nominations, Kara Stein and Michael Piwowar said the SEC should be more flexible in its settlement model. Currently, the SEC allows parties to settle without admitting to the charges — a practice that has drawn criticism from judges as well as investor advocates.

via SEC nominees back ending ‘no admit no deny’ settlements — InvestmentNews