Shut Up, the SEC Explained – WSJ

By all means, let the Festivus begin. The First Amendment says that even convicted murderers are free to complain that the justice system treated them unfairly. New evidence sometimes proves them right.

So why should a person accused of, say, insider trading lose the ability to defend his name? Since most SEC cases are settled—in 2013 one commissioner put the figure at “approximately 98%”—a huge majority of enforcement targets aren’t allowed to speak freely. Let’s hear what they have to say.

via Shut Up, the SEC Explained – WSJ.