‘Gag Rule’ at Wall Street regulator attacked from the right – POLITICO

“People tend to put a lot of weight in it when the SEC brings a case, even when it’s a No-Admit, No-Deny settlement,” Peirce said. She added that she doesn’t believe that anything would have to change in the SEC’s enforcement program if the policy went away.

But former Enforcement Director Bill McLucas argues that if defendants were able to openly criticize charges that they already settled with the agency, the SEC would likely begin pursuing more admissions of guilt. That, he said, could “present a very real concern” for many defendants and spur more litigation for the SEC, which the agency “would not likely wish for.”

Source: ‘Gag Rule’ at Wall Street regulator attacked from the right – POLITICO