Mary Jo White lays down the law as SEC rejects deal with Phil Falcone’s Harbinger fund – NYPOST.com

Billionaire financier Phil Falcone’s attempts to rebuild his troubled empire just took a massive hit from Mary Jo White’s Securities and Exchange Commission.

The tough as nail head of the SEC refused to settle two civil suits against him and his Harbinger Capital Partners hedge fund.

While Harbinger, which disclosed the SEC slap-down in a regulatory filing, did not say why its proposed settlement was turned aside, White did say that she was looking into doing away with deals that allowed defendants out from under probes without admitting or denying guilt.

via Mary Jo White lays down the law as SEC rejects deal with Phil Falcone’s Harbinger fund – NYPOST.com