On June 18, 2013, SEC Chair Mary Jo White announced that the agency would soon begin requiring admissions of wrongdoing from defendants to settle enforcement actions in certain egregious cases. Just two months later, the SEC took its first step under the new policy, announcing that hedge fund adviser Philip Falcone and his firm Harbinger Capital Partners have agreed to a settlement including such admissions.
via In Policy Shift, SEC Obtains Admissions of Wrongdoing in Falcone Settlement – Compliance Week
