10.14.21
Wall Street, Companies May Have to Give Up More to Settle with SEC
by: Dave Michaels
The SEC signaled Wednesday that it plans to require companies in some cases to admit wrongdoing when they settle civil enforcement actions. Requiring admissions in certain cases will improve the deterrent value of enforcement actions and boost public trust in financial and government institutions, SEC Enforcement Director Gurbir Grewal said during the annual SEC conference sponsored by the Practising Law Institute. “When it comes to accountability, few things rival the magnitude of wrongdoers admitting that they broke the law. Admissions, given their attention-getting nature, also serve as a clarion call to other market participants to stamp out and self-report the misconduct, to the extent it’s occurring in their firm.”
Read the full article on Wall Street Journal