It’s being reported that an SEC plan to abandon the agency’s decades-old “no admit/no deny” settlement policy is in the works.
From the defense perspective, this may turn out to be a case of “be careful what you wish for.”
In my experience, the no admit/no deny policy tends to produce relatively restrained public charging documents in settled cases. But if settling parties are free to publicly deny the SEC’s assertions, I suspect the enforcement staff may feel compelled to include factual details that they otherwise might have left out.
Source: Coates Lear on LinkedIn