<ul class="summary-list"><li>The <keyword id="11898795" type="UNKNOWN" weightage="60" keywordseo="sec" source="Orion">SEC</keyword> will require companies involved in settling some civil enforcement actions to admit wrongdoing, according to a Wall Street Journal report. </li><li>The agency that enforces laws against market manipulation largely abandoned admissions of wrongdoing during the Trump administration. </li></ul><p>The Securities and Exchange Commission will return to a policy of requiring companies involved in settling some civil enforcement actions to admit wrongdoing, according to a <a href="https://www.wsj.com/articles/sec-to-seek-admissions-of-wrongdoing-in-some-enforcement-actions-11634139229?mod=markets_lead_pos4">Wall Street Journal report</a> on Wednesday. </p><p>Such admissions in certain cases will strengthen the deterrent value of enforcement actions and increase public trust in financial and government institutions, said SEC Enforcement Director Gurbir Grewal, who addressed an annual agency conference sponsored by the Practising Law Institute. </p><p>"When it comes to accountability, few things rival the magnitude of wrongdoers admitting that they broke the law," Grewal was quoted as saying by WSJ. "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."</p><p>The agency that enforces laws against market manipulation is returning to a policy started during the Obama administration that was largely abandoned during the Trump administration, the report said.</p><p>The SEC in 2013 said it would make companies and individuals admit wrongdoing as a condition of settling civil charges in certain cases. The agency at that time was facing pressure to show it could clamp down on Wall Street abuses after failing to detect practices in mortgage-bond and derivatives <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> that contributed to the 2008 global financial crisis.</p><p>But businesses may resist the SEC's latest shift because admitting violations of the law can lead to other consequences. For example, investors or other parties may file litigation claiming they were harmed by wrongdoing.</p><p>Meanwhile, the SEC also can refer fraud cases to the Department of Justice which can enforce securities laws through criminal penalties. Fraud is the most serious type of allegation the SEC investigates.</p>

The SEC doesn't want to let firms and individuals get by without admitting wrongdoing anymore as part of enforcement actions

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/550c5ac869bedd110e9f8525-1196/mary-jo-white-7.png" alt="Mary Jo White" data-mce-source="Reuters/ Jonathan Ernst " /><p class="source"><span>Reuters/ Jonathan Ernst </span></p></div><p></p></div></div>Mary Jo White, the chair of the Securities and Exchange Commission, has announced that she will step down at the end of the Obama administration.</p><p>Her departure from the SEC had been expected. <a href="http://www.businessinsider.com/donald-trumps-impact-on-wall-street-banks-2016-11">Financial stocks have rallied in the aftermath of the election of Donald Trump as president</a>, in expectation of deregulation. </p><p>Here's the statement:</p><p><em>Washington D.C., Nov. 14, 2016 - </em></p><p><em>SEC Chair Mary Jo White, after nearly four years as the agency's head, today announced that she intends to leave at the end of the Obama Administration.  Under Chair White's leadership, the Commission strengthened protections for investors and the markets through transformative rulemakings that addressed major issues highlighted by the financial crisis.  The Commission also instituted a new approach to enforcement that has resulted in greater accountability and record actions through, among other things, the use of admissions of wrongdoing and enhanced data analytics and technology.</em></p><p><em>Chair White, who became the 31st Chair of the SEC in April 2013, will be one of the SEC's longest serving Chairs.</em></p><p><em>"It has been a tremendous honor to work alongside the incredibly talented and dedicated SEC staff members who do so much every day to protect investors and our markets," said Chair White.  "I am very proud of our three consecutive years of record enforcement actions, dozens of fundamental reforms through our rulemakings that have strengthened investor protections and market stability, and that the job satisfaction of our phenomenal staff has climbed in each of the last three years.  I also want to express my appreciation for the engagement and dedication of my fellow Commissioners and my financial regulator colleagues, past and present."</em></p><p><em>In addition to completing the vast majority of the agency's mandates under the Dodd-Frank Act and all of its mandates under the JOBS Act, Chair White's leadership has advanced the agency's mission through other critical rulemakings and built robust and effective frameworks for the SEC's regulatory regimes going forward.</em></p><p><em>"My duty has been to ensure that the Commission implemented strong investor and market protections, and to establish an enduring foundation for future progress in the most critical areas - asset management regulation, equity market structure and disclosure effectiveness," said Chair White.  "Thanks to the hard work and dedication of the SEC's staff, we have accomplished both."</em></p><p><em>Chair White drove many important rules and other policy measures to completion.  Under her leadership, the Commission advanced more than 50 significant rulemaking initiatives, including: </em></p><ul><li><em>Fundamental reforms to the money market fund industry and unprecedented new disclosures and protections for mutual fund investors in a major initiative to strengthen regulation of the $67 trillion asset management industry</em></li><li><em>Enhanced equity market structure oversight, including wide-ranging new controls on how key market participants handle technology and systems issues</em></li><li><em>A comprehensive framework for enhancing the effectiveness of corporate disclosure for investors</em></li><li><em>Extensive new safeguards for the financial system and for investors in the more than $7 trillion security-based swap market</em></li><li><em>New ways for smaller companies to raise capital needed to grow their businesses</em></li><li><em>New post-crisis restrictions on proprietary trading and investments by broker-dealers and other financial institutions through the Volcker rule</em></li><li><em>Major enhancements to transparency and risk management for asset-backed securities, which were a significant contributor to the financial crisis</em></li><li><em>Strong operating standards for the clearing agencies that stand at the center of our financial system</em></li><li><em>Extensive reforms to the regulation of credit rating agencies and how they address conflicts of interest that can harm investors</em></li><li><em>First-ever regulatory framework for municipal advisors who are critical to the capital raising activities of thousands of local governments</em></li><li><em>Modernized rules of practice for conducting administrative proceedings, including providing expanded rights of discovery</em></li></ul><p><em>To enhance accountability of those who violate the securities laws, Chair White implemented the Commission's first-ever policy to require admissions of wrongdoing in certain cases where heightened accountability and acceptance of responsibility is appropriate.  Thus far, the Commission has required admissions from more than 70 defendants, including 44 entities and 29 individuals.</em></p><p><em>During Chair White's tenure, the Commission brought more than 2,850 enforcement actions, more than any other three-year period in the Commission's history, and obtained judgments and orders totaling more than $13.4 billion in monetary sanctions.  The Commission charged over 3,300 companies and over 2,700 individuals, including CEOs, CFOs, and other senior corporate officers.</em></p><p><em>The record number of enforcement actions over the last three fiscal years against companies and senior executives involved many "first of their kind" cases in asset management, market structure and public finance.  Other major cases involved insider and abusive trading, violations of anti-corruption rules and misconduct in accounting and financial reporting.  In the last year alone, the Commission brought a record 868 enforcement actions.  And for the first time, the Commission devoted significant resources and emphasis on using cutting edge data analytics to uncover and investigate misconduct resulting in numerous enforcement actions involving insider trading, asset management and complex financial instruments. </em></p><p><em>As a result of the successful whistleblower program, the Commission has awarded more than $100 million, since inception - virtually all during Chair White's tenure - to whistleblowers who provided key original information that led to successful enforcement actions.</em></p><p><em>Under Chair White's leadership, the Commission made significant enhancements to its examination program, including increasing staff by about 20 percent by hiring new examiners where funding permitted and redeploying staff from other program areas to heighten focus on the fast-growing investment management industry.</em></p><p><em>The exam program also increased its use of advanced quantitative techniques to enable examiners to detect misconduct by more quickly analyzing large amounts of data.  Over the past year, the examination program conducted more than 2,400 formal examinations of registrants, an increase over each of the prior seven fiscal years.  The Commission also enhanced technology in its examination program through the National Exam Analytics Tool (NEAT), which enables examiners to analyze large volumes of trading data much more efficiently.</em></p><p><em>Chair White serves as a member of the Financial Stability Oversight Council and on several other domestic and international organizations, including the International Organization of Securities Commissions, the Financial Stability Board, the International Financial Reporting Standards Foundation Monitoring Board, the Financial and Banking Information Infrastructure Committee, and the Federal Housing Finance Oversight Board.</em></p><p><em>Chair White added, "It has been and will always be critical for this agency and the public that the SEC remain truly independent.  That independence is crucial to our ability to protect investors, safeguard our markets and facilitate the capital formation that fosters innovation and the growth that is essential to our national economy."</em></p><p><em>Prior to her arrival at the Commission, Chair White spent decades as a federal prosecutor and securities lawyer.  As the U.S. Attorney for the Southern District of New York from 1993 to 2002, she prosecuted cases involving complex securities and financial institution frauds, other white collar crime and international terrorists.  She also served as an Assistant U.S. Attorney and was Chief Appellate Attorney of that office's Criminal Division.  She served as Acting U.S. Attorney for the Eastern District of New York as well as the First Assistant U.S. Attorney.  In private practice, she was a litigation partner and chair of the litigation department of Debevoise &amp; Plimpton LLP, overseeing more than 200 lawyers.  Chair White is also a member of the Council on Foreign Relations and the American College of Trial Lawyers.</em></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/100-dollars-states-america-money-country-2016-10">Here's how much $100 is worth in every state</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VuNWkxNzE6A7vpY98CWqPiVi6-XwZ26y" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'VuNWkxNzE6A7vpY98CWqPiVi6-XwZ26y',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

The head of the SEC will step down at the end of the Obama administration

<p><div class="KonaFilter image-container float_right"><div class="image on-image"><img src="http://static4.businessinsider.com/image/51c1d4b8eab8ea037f000022-1193-894/mary-jo-white-sec.png?maxX=480" border="0" alt="mary jo white sec" width="480" /><p class="source"><a href="http://www.apimages.com/metadata/Index/SEC-Whitehouse-Confirmation/a71c8e7b488648cc8926f3fc8c2cd2e5/6/0">AP</a></p></div><p></p></div>The <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="SEC">SEC</keyword>'s Mary Jo White has taken a hardline approach since her appointment as chairman earlier this year.</p>
<p>White has pushed the Commission to <a href="http://www.businessinsider.com/sec-wants-banks-to-admit-wrongdoing-2013-6">seek admission of wrongdoing</a> in cases, upending the SEC's longstanding policy of letting bigwigs off with a financial slap on the wrist but no real acknowledgment of guilt.</p>
<p>Now, after a <a href="http://www.businessinsider.com/another-glitch-halts-trading-2013-9">spate</a> of <a href="http://www.businessinsider.com/nasdaq-software-bug-2013-8">high profile glitches</a> on the <keyword id="6375761" type="UNKNOWN" weightage="60" keywordseo="Stock-exchange">stock exchange</keyword>, White has brought into question whether exchanges should continue to "self-regulate," <a href="http://online.wsj.com/article/SB10001424052702304906704579111483532305624.html">The Wall Street Journal's Andrew Ackerman, Scott Patterson, and Jacob Bunge report</a>:</p>
<p style="padding-left: 30px;">The SEC chairman said the self-regulatory function of stock and options exchanges "has encountered challenges" in recent years as the <keyword id="6368158" type="ORGANIZATION" weightage="60" keywordseo="trading">trading</keyword> venues have evolved into for-profit enterprises that compete more directly with brokerages. She added that "the current nature of exchange competition and the self-regulatory model should be fully evaluated in light of the evolving market structure and trading practices."</p>
<p style="padding-left: 30px;">The SEC should review whether the oversight of exchanges "continues to meet the needs of investors and public companies," Ms. White said. The comments reflect her first major public foray into market-structure issues since she took charge of the SEC in April.</p>
<p>According to the Journal, so-called "dark pools" (private trading venues under less scrutiny) traded 38% of all shares. The growth of "opaque markets" has hurt the bottom line of exchanges, which make revenue off of executing buy and sell orders.</p>
<p><span style="line-height: 1.5em;">"The review could result in a move to strip exchanges of some current responsibilities. It also could lead to tighter regulation for the private venues, which could benefit exchanges," the Journal reported.</span></p>
<p><a href="http://online.wsj.com/article/SB10001424052702304906704579111483532305624.html"><span style="line-height: 1.5em;">Read the full report at the Wall Street Journal »</span></a></p>

The New Head Of The SEC Is Thinking Of Putting A Major Leash On Stock Exchanges

<p><div class="image-container float_right"><div class="image"><img src="http://static4.businessinsider.com/image/51c1d4b8eab8ea037f000022-1193-894/mary-jo-white-sec.png?maxX=480" border="0" alt="mary jo white sec" width="480" /><p class="source on-image"><a href="http://www.apimages.com/metadata/Index/SEC-Whitehouse-Confirmation/a71c8e7b488648cc8926f3fc8c2cd2e5/6/0">AP</a></p></div></div>Those days of "without admitting or denying" from financial firms for allegations set forth by the Securities and Exchange Commission seem to be a thing of the past. </p>
<p>Today we got a rare admission of wrongdoing from <keyword id="111830" type="CITY" weightage="60" keywordseo="JPMorgan-Chase">JPMorgan Chase</keyword> in a settlement with the <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="SEC">SEC</keyword> related to the $6 billion "London Whale" trading loss. </p>
<p>"JPMorgan Chase &amp; Co. ("JPMorgan") admits to the facts set forth below and acknowledges that its conduct violated the federal securities laws," <a href="http://www.sec.gov/litigation/admin/2013/34-70458.pdf">the SEC's release stated.</a> </p>
<p><span>The SEC said JPMorgan misstated financial results and lacked effective internal controls to detect and prevent its traders from fraudulently overvaluing investments to hide losses. </span></p>
<p><span>This is different from how these sorts of cases with the SEC involving investment banks were handled in the past.</span></p>
<p>Back in July 2010, Goldman paid a record $550 million fine to the SEC to settle charges related to subprime mortgage CDO <a href="http://www.sec.gov/news/press/2010/2010-123.htm">without admitting or denying</a> the agency's allegations. The bank did admit that it the Abacus marketing materials were incomplete though.</p>
<p>Then, in October 2011, Citigroup settled charges about misleading investors over CDO for $285 million. <a href="http://www.sec.gov/news/press/2011/2011-214.htm">They didn't have to admit any wrongdoing either</a>.</p>
<p>However, Judge Jed Rakoff of Federal District Court blocked that settlement and <a href="http://www.businessinsider.com/must-read-judge-rakoff-delivers-brutal-takedown-of-both-the-sec-and-citigroup-2011-11">criticized the SEC's "without admitting or denying" policy.</a></p>
<p>The SEC's chair Mary Jo White, who was <a href="https://www.sec.gov/about/commissioner/white.htm">sworn in</a> back in April, <a href="http://www.nytimes.com/2013/06/22/business/secs-new-chief-promises-tougher-line-on-cases.html?pagewanted=1&amp;hp">told the New York Times' James B. Stewart this summer</a> that she was going to start changing the that policy. </p>
<p><a href="http://www.nytimes.com/2013/06/22/business/secs-new-chief-promises-tougher-line-on-cases.html?hp">From the NYT:</a> </p>
<p style="padding-left: 30px;">"In the interest of public accountability, you need admissions" in some cases, Ms. White told me. "Defendants are going to have to own up to their conduct on the public record," she said. "This will help with deterrence, and it's a matter of strengthening our hand in terms of enforcement."</p>
<p>She's been keeping her word. </p>
<p>Back in May, hedge fund manager Phil Falcone said <a href="http://www.businessinsider.com/phil-falcone-says-hes-reached-a-settlement-with-the-sec-2013-5">in a filing that his Harbinger Capital had reached a settlement</a> "without admitting or denying" the SEC's allegations.</p>
<p>That deal with the SEC<span> </span><a href="http://www.reuters.com/article/2013/07/19/us-sec-falcone-settlement-idUSBRE96I0OF20130719">was rejected</a> in July.  Last month, the SEC said Falcone agreed to pay $18 million, accept a five-year ban from the industry <a href="http://www.businessinsider.com/phil-falcone-sec-settlement-2013-8">and admit to wrongdoing.</a></p>
<p>Today it's JPMorgan admitting. </p>
<p><keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword>, you've been warned. </p>

THE DAYS OF 'NEITHER ADMIT NOR DENY' ARE GONE: The SEC Gets JPMorgan To Admit To Violating Securities Laws

<p><div class="image-container float_right" style="width:480px"><div class="image"><img src="http://static5.businessinsider.com/image/51eff36869bedd315200001c-1195-896/philip-falcone.png?maxX=480" border="0" alt="philip falcone" width="480" /><p class="source">AP</p></div></div>Hedge fund manager <keyword id="1739205" type="PERSON" weightage="60" keywordseo="Phil-Falcone">Phil Falcone</keyword>, who runs Harbinger Capital, has reached an agreement with the Securities and Exchange Commission.</p>
<p>Falcone agreed to be barred from the securities industry for at least five years, <a href="http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539780222#.UhJ3yHNeuAY">the SEC said in a release</a>.</p>
<p>He also agreed to pay an $18 million penalty. </p>
<p>Earlier this summer, Falcone's initial deal with the <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="SEC">SEC</keyword> <a href="http://www.reuters.com/article/2013/07/19/us-sec-falcone-settlement-idUSBRE96I0OF20130719">had been rejected.</a>  </p>
<p><span>Last summer, the </span>SEC<span> charged </span><a href="http://www.businessinsider.com/phil-falcone-and-harbinger-sued-by-the-sec-2012-6">Falcone and his Harbinger Capital Partners with securities fraud</a><span>.</span></p>
<p><span></span><span>Falcone and Harbinger admitted to wrongdoing.</span></p>
<p><span>Here's the full SEC release: </span></p>
<p style="padding-left: 30px;">The Securities and Exchange Commission today announced that New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners have agreed to a settlement in which they must pay more than $18 million and admit wrongdoing.  Falcone also agreed to be barred from the securities industry for at least five years.</p>
<p style="padding-left: 30px;">The SEC <a href="http://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171482856">filed enforcement actions in June 2012</a> alleging that Falcone improperly used $113 million in fund assets to pay his personal taxes, secretly favored certain customer redemption requests at the expense of other investors, and conducted an improper “short squeeze” in bonds issued by a Canadian manufacturing company.  In the settlement papers filed in court today, Falcone and Harbinger admit to multiple acts of misconduct that harmed investors and interfered with the normal functioning of the securities markets. </p>
<p style="padding-left: 30px;">“Falcone and Harbinger engaged in serious misconduct that harmed investors, and their admissions leave no doubt that they violated the federal securities laws,” said Andrew Ceresney, Co-Director of the SEC’s Division of Enforcement.  “Falcone must now pay a heavy price for his misconduct by surrendering millions of dollars and being barred from the hedge fund industry.”</p>
<p style="padding-left: 30px;">The settlement, which must be approved by the U.S. District Court for the Southern District of New York, requires Falcone to pay $6,507,574 in disgorgement, $1,013,140 in prejudgment interest, and a $4 million penalty. The Harbinger entities are required to pay a $6.5 million penalty. Falcone has consented to the entry of a judgment barring him from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization with a right to reapply after five years. The bar will allow him to assist with the liquidation of his <keyword id="116445" type="COMPANY" weightage="60" keywordseo="Hedge-funds">hedge funds</keyword> under the supervision of an independent monitor. </p>
<p style="padding-left: 30px;">Among the set of facts that Falcone and Harbinger admitted to in settlement papers filed with the court:</p>
<ul style="padding-left: 30px;">
<li style="padding-left: 30px;">Falcone improperly borrowed $113.2 million from the Harbinger Capital Partners Special Situations Fund (SSF) at an interest rate less than SSF was paying to borrow money, to pay his personal tax obligation, at a time when Falcone had barred other SSF investors from making redemptions, and did not disclose the loan to investors for approximately five months.</li>
<li style="padding-left: 30px;">Falcone and Harbinger granted favorable redemption and liquidity terms to certain large investors in HCP Fund I, and did not disclose certain of these arrangements to the fund’s board of directors and the other fund investors.</li>
<li style="padding-left: 30px;">During the summer of 2006, Falcone heard rumors that a Financial Services Firm was shorting the bonds of the Canadian manufacturer, and encouraging its customers to do the same.</li>
<li style="padding-left: 30px;">In September and October 2006, Falcone retaliated against the Financial Services Firm for shorting the bonds by causing the Harbinger funds to purchase all of the remaining outstanding bonds in the open market.</li>
<li style="padding-left: 30px;">Falcone and the other Defendants then demanded that the Financial Services Firm settle its outstanding transactions in the bonds and deliver the bonds that it owed.  Defendants did not disclose at the time that it would be virtually impossible for the Financial Services Firm to acquire any bonds to deliver, as nearly the entire supply was locked up in the Harbinger funds’ custodial account and the Harbinger funds were not offering them for sale.</li>
<li style="padding-left: 30px;">Due to Falcone’s and the other Defendants’ improper interference with the normal interplay of supply and demand in the bonds, the bonds more than doubled in price during this period.</li>
</ul>
<p style="padding-left: 30px;">The SEC’s investigation was conducted by Conway T. Dodge, Jr., Robert C. Besse, Ken C. Joseph, Mark Salzberg, Brian Fitzpatrick, and David Stoelting.  The SEC’s litigation was handled by Mr. Stoelting, Mr. Besse, Mr. Salzberg, Kevin McGrath, David J. Gottesman, and Bridget Fitzpatrick.</p>
<p><span><br /></span></p>

HEDGE FUNDER FALCONE TO PAY $18 MILLION FINE AND ACCEPT 5-YEAR BAN FROM INDUSTRY

<p><div class="image-container float_right" style="width:480px"><div class="image"><img src="http://static4.businessinsider.com/image/51c1d4b8eab8ea037f000022-1193-894/mary-jo-white-sec.png?maxX=480" border="0" alt="mary jo white sec" width="480" /><p class="source"><a href="http://www.apimages.com/metadata/Index/SEC-Whitehouse-Confirmation/a71c8e7b488648cc8926f3fc8c2cd2e5/6/0">AP</a></p></div></div>For decades, the <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="SEC">SEC</keyword> has let companies and individuals settle charges <a href="http://online.wsj.com/article/SB10001424127887324021104578553931876196990.html?mod=WSJ_hp_LEFTWhatsNewsCollection">without actually admitting guilt</a>, letting bigwigs more or less off the hook with only tacit <span>— </span>but not legal <span>— </span>acknowledgment of wrongdoing.</p>
<p>No longer. The Commission will begin to push for more accountability on a "case-by-case" basis, <a href="http://online.wsj.com/article/SB10001424127887324021104578553931876196990.html?mod=WSJ_hp_LEFTWhatsNewsCollection">the Wall Street Journal reports</a><span style="line-height: 1.5em;">:</span></p>
<p><span style="line-height: 1.5em;">From the Journal:</span></p>
<p style="padding-left: 30px;">The new policy, which came out of a review [SEC Chairman] Ms. White began when she joined the agency in the spring, will be applied in "cases where…it's very important to have that public acknowledgment [of wrongdoing] and accountability," she told reporters at a <keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> Journal CFO Network conference in Washington, D.C.</p>
<p style="padding-left: 30px;">Decisions will be made on a "case-by-case" basis, Ms. White said. But she added the agency intends to target cases of egregious intentional conduct or widespread harm to investors.</p>
<p style="padding-left: 30px;">Most cases still will be allowed to settle using the standard "neither admit nor deny" formula, Ms. White said.</p>
<p>Washington legislators like Elizabeth Warren have recently urged the SEC to take big <keyword id="6368751" type="PERSON" weightage="60" keywordseo="Banks">banks</keyword> to task for wrongdoing, the Journal reports.</p>
<p>Additionally, Judges like New York City's infamous Jed Rakoff have been railing against this policy for years. Here's what he said about it <a href="http://www.businessinsider.com/must-read-judge-rakoff-delivers-brutal-takedown-of-both-the-sec-and-citigroup-2011-11#ixzz2WgAOVmqk">in his massive takedown of Citigroup back in 2011</a> and he blamed the SEC for the problem as well.</p>
<p style="padding-left: 30px;">"Of course, the policy of accepting settlements without any admissions serves various narrow interests of the parties. In this case, for example, Citigroup was able, without admitting anything, to negotiate a settlement that (<strong>a) charges it only with negligence, (b) results in a very modest penalty,  (c) imposes the kind of injunctive relief that Citigroup (a recidivist) knew that the S.E.C. had not sought to enforce against any financial institution for at least the last 10 years... (d) imposes relatively inexpensive prophylactic measures for the next three years. In exchange, Citigroup not only settles what it states was a broad- ranging four-year investigation by the S.E.C. of Citigroup's mortgage-backed securities offerings... but also avoids any investors' relying in any respect on the S.E.C.</strong> Consent Judgment in seeking return of their losses. If the allegations of the Complaint are true, this is a very good deal for Citigroup; and, even if they are untrue, it is a mild and modest cost of doing business."</p>
<p><a href="http://online.wsj.com/article/SB10001424127887324021104578553931876196990.html?mod=WSJ_hp_LEFTWhatsNewsCollection">Read the full report from the Wall Street Journal&gt;</a></p>

The SEC Wants To Make Banks Actually Admit It When They Do Something Wrong

<img src="https://static-ssl.businessinsider.com/image/5e0e5a13855cc214e9271382-2400/2019-04-04t201319z712145539rc158d1f84d0rtrmadp3tesla-musk-sec.jpg" alt="2019 04 04T201319Z_712145539_RC158D1F84D0_RTRMADP_3_TESLA MUSK SEC.JPG" /><p class="source"><span>Reuters / Shannon Stapleton</span></p><p class="caption">Tesla CEO Elon Musk leaves Manhattan federal court with attorney John Hueston.</p><ul class="summary-list"><li>If you're an executive facing a legal crisis and have anywhere between $1,000 to $2,000 an hour to spend, you might consider turning to John Hueston. </li><li>Palantir, the data analytics company Peter Thiel funded, tapped Hueston when it found itself getting nowhere in a trade secret lawsuit. So did Elon Musk, when the SEC claimed he violated a settlement over his infamous "funding secured" tweets.</li><li>Hueston is also defending Bill McGlashan, the former TPG exec charged in the college admissions scandal.</li><li>Business Insider took a deeper look at the man responsible for the fate of the powerful people and companies that we cover.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymarymary">Click here for more BI Prime stories</a>.</li></ul><p>If you're an executive facing a legal crisis and have anywhere between $1,000 to $2,000 an hour to spend, you might consider turning to John Hueston.</p><p>He's the lawyer who Peter Thiel's data analytics company, Palantir, turned to when it found itself getting nowhere in a trade secret lawsuit. He represented Elon Musk when the SEC claimed he violated the terms of a settlement over his infamous "funding secured" tweets. And he's <a href="https://www.businessinsider.com/hollywood-mogul-and-former-tpg-exec-fights-college-admissions-charges-2019-12">defending Bill McGlashan</a>, the former TPG exec charged in the college admissions scandal. </p><p>We reviewed court records and talked to a dozen insiders including friends, colleagues, and competitors, to learn how the one-time prosecutor who grilled former Enron Chairman Ken Lay in one of the biggest corporate fraud trials in history has turned into a fixer for the rich and powerful.</p><p>His website for the law firm Hueston Hennigan has a scrolling testimonials section featuring one-time clients including actor Alec Baldwin and execs from corporations like T-Mobile, BlackBerry, and Waste Management. And if the firm's docket and 2020 schedule is any indication, it stands to add a few more.</p><p>"He can effectively present to any audience, whether it's a board or a jury or the Supreme Court," said Wayne Gross, a lawyer who has worked closely with Hueston, as far back as the 2000s when they were both prosecutors, as well as in recent years, while working in private practice. </p><p>Other colleagues pointed to a mix of boldness and media savvy, with an energy that's led him to climb mountains and ride his bike cross-country while carrying his laptop and cell phone to stay in touch with clients. </p><p>"He has a rare combination of being willing to do any work it takes to know the case as well as anyone else, but also be nimble and find a path that others haven't thought of," said Robb Adkins, a white collar defense partner at Winston &amp; Strawn, who is also a longtime friend. </p><h2>Palantir fires Boies Schiller, hires Hueston</h2><p>That reputation led Hueston to Palantir, the Peter Thiel-funded data company which had grown frustrated with delays in a trade-secrets case. At some point in 2019, it fired lawyers at Boies Schiller Flexner - the firm founded by famed trial attorney David Boies - and brought Hueston in to supercharge the case. </p><p>Palantir, founded in 2003, sells software and analytics tools to US government agencies. Immigration and Customs Enforcement <a href="https://www.businessinsider.com/activist-group-targets-palantir-over-controversial-ice-raid-2019-10">was reported to have used Palantir as part of a immigration crackdown under President Donald Trump.</a></p><p>The secretive company was last valued at $20 billion, and there's been much speculation about when it might finally pursue an <a href="https://www.businessinsider.com/palantir-reportedly-seeking-private-funding-delaying-ipo-2019-9">initial public offering</a>. </p><p>One of the biggest legal issues currently facing the company is a longstanding dispute with an early investor, Marc Abramowitz, who had a falling out in 2015 with CEO Alexander Karp.</p><p>Abramowitz says Palantir initially blocked him from selling $60 million of shares and <a href="https://www.reuters.com/article/us-palantir-technologies-lawsuit/palantir-ordered-to-open-books-to-investor-seeking-u-s-fraud-probe-idUSKCN1G62NK">is investigating possible fraud at the company</a>, while Palantir says Abramowitz stole trade secrets and used them to set up a competing business.</p><p>After three years in court, including back-and-forth deliberations about the nature of trade secrets Abramowitz is alleged to have misappropriated, there has been no discovery conducted against Abramowitz, even as a June 2020 trial looms ahead. </p><p>In late December, Hueston filed a motion in California court pursuing discovery against Abramowitz, and referenced a new claim he added under RICO - a racketeering law often cited by prosecutors when going after organized crime, and a more aggressive accusation than trade secret misappropriation.</p><p>Boies Schiller did not respond to requests for comment about Hueston's involvement. Neither did attorneys at Skadden who are representing Abramowitz. </p><h2>Hueston advises Elon Musk </h2><p>In February, Hueston represented Elon Musk when the billionaire entrepreneur got into hot water with the Securities and Exchange Commission for tweeting what the securities regulator said was fraudulent information about Tesla's business.</p><p>Musk had already entered into a settlement with the SEC for tweeting the words "funding secured" in August 2018, which suggested to many observers that he could take Tesla private at $420 a share. The SEC called those tweets misleading, and a go-private deal never happened. </p><p>As part of the SEC settlement, Musk forfeited his role as chair of the Tesla board for three years, paid $20 million, and agreed to have his tweeting monitored by lawyers.</p><p>Then, months later, another tweet - this time, inaccurate sales projections which he later corrected - provoked the SEC to file another legal action against Musk, claiming he was in violation of the settlement.</p><p>That's when Hueston was called in to iron things out. He argued that Musk had been perfectly cooperative with the SEC, despite his view that the Twitter restrictions raised First Amendment concerns. And, he said, that the SEC's action "smacks of retaliation and censorship" after Musk was critical of the agency in a CBS interview. </p><p>After some jockeying in court, the matter was resolved with Musk's CEO position intact at Tesla and he and Hueston appeared outside the courtroom steps in the Southern District of New York, fielding questions from reporters. </p><h2>Hueston picks up McGlashan as a client</h2><p>It was around the same time that former TPG executive Bill McGlashan, who was charged by U.S. prosecutors of paying to falsify his son's record in an attempt to get him into the University of Southern California, was on the phone with Hueston about his own legal problems.</p><p>In the McGlashan case, Hueston interviewed as many as four parents for possible representation after a sweeping March indictment netted 33 accused of paying a consultant to create fake profiles and exam scores for their children to gain entry into top universities. </p><p>People familiar with the process said that Hueston went with Hollywood private-equity mogul McGlashan, at least in part, because he was willing to fight the charges rather than cop to a plea agreement with prosecutors to make the matter go away. </p><p>Later in the year, Hueston attacked the prosecutors charging McGlashan, <a href="https://www.businessinsider.com/hollywood-mogul-and-former-tpg-exec-fights-college-admissions-charges-2019-12">peppering them with discovery requests</a> and asking for any documents that could show he had been unaware of the fraudulent scheme orchestrated by the consultant he paid, Rick Singer. </p><h2>From Enron prosecutor to a friend to big business </h2><p>Hueston has always been known as aggressive. He made his name in 2006 when he received public recognition for his role as the attack-dog prosecutor grilling former Enron chairman and CEO Ken Lay in one of the biggest corporate fraud trials ever. </p><p>Hueston had been called in from Southern California to Houston to work as one member of a special Justice Department task force investigating the events that led up to Enron's collapse in 2001.</p><p>He proved himself to be dogged in mounting a case against Lay, while others investigated onetime CEO and COO Jeffrey Skilling, as well as other executives. By the end of it, both Lay and Skilling were convicted on fraud and conspiracy charges, and <a href="https://www.nytimes.com/2006/06/04/business/yourmoney/04enron.html">Hueston's work was covered in lengthy profiles</a>. </p><p>Afterward, Hueston joined the law firm of Irell &amp; Manella, where he switched sides and, instead of holding corporations to account for wrongdoing, decided to make bank - earning millions defending corporations and wealthy people in both criminal prosecutions and civil business disputes.</p><h2>Split identity</h2><p>At times, Hueston has wrestled with whether he has wanted to continue on as a defense lawyer, according to people who know him. </p><p>In 2014, while working at Irell, he applied for the role of U.S. Attorney of the Central District of California, the most populous district in America. It involved an extensive, weeks-long application process, including reference checks, a list of cases and judges he appeared before, as well as names of opposing counsel. </p><p>"Making the decision to apply, I think, really was driven by a continuing desire to be a pubic servant," said Brian Hennigan, Hueston's law partner. </p><p>He was interviewed by Senator Dianne Feinstein, who would make the recommendation as to who would be the next U.S. Attorney for the Central District, appointed by then President Obama. They went with an internal hire instead: Eileen Decker, who served from 2015 to 2017. </p><p>Shortly after, he launched Hueston Hennigan, where he set out to handle high-stakes cases that are also in the public interest. </p><h2>Both plaintiffs and defense</h2><p>Since starting the firm, he's taken on both plaintiffs and defense-side cases, and some at discounted rates.</p><p>That includes representing Navajo Nation, an American Indian territory which has sued the EPA and other parties they say are responsible for a 2015 gold mine waste spill in Colorado. </p><p>The cases that don't fall into that "low bono" category, however, are often not pretty. </p><p>At one point, he represented Corinthian Colleges, the onetime for-profit college chain that was investigated by attorneys general for fraud, including fake job placement statistics, over-promising a flowery future to prospective students and then charging high prices for tuition and racking up student debt.</p><p>Both <a href="https://www.revealnews.org/article/how-corinthian-colleges-a-for-profit-behemoth-suddenly-imploded/">then-California attorney general Kamala Harris and the federal Consumer Financial Protection Bureau accused the school chain of financial improprieties. </a> </p><p>The school chain filed for bankruptcy and Harris won a $1.1 billion judgment against the defunct company in 2016, yet, thanks to Hueston's involvement, none of its executives were criminally charged. All penalties remained financial.</p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-we-knock-on-wood-origins-of-7-other-common-superstitions-psychology-magical-thinking-2018-2">Are you superstitious on days like Friday the 13th? These are the origins of 7 common superstitions, like why we knock on wood.</a></h3>                    <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/dJaS8qJv-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>            

Palantir, ex-TPG exec Bill McGlashan, and Elon Musk have all tapped John Hueston for legal firepower. Insiders explain how the one-time Enron prosecutor became a fixer for the rich and powerful.

<p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55685f026bb3f72e09a0e1b5-847-635/loretta-lynch-11-2.jpg" border="0" alt="loretta lynch 11"><p class="source"><span>Reuters </span></p><p class="caption">Loretta Lynch needs her whistleblower initiative to have the same punch as Mary Jo White's.</p></img></div><p></p></div></div></span></p><p><span style="line-height: 1.5em;">While the Department of Justice and its new Attorney General appear ready to crack down on Wall Street crime, some in the legal community say Congress could give easily give them more help dropping the dime on crooks.</span></p><p><span style="line-height: 1.5em;">By expanding whistleblower protection scope and cash payouts of a <keyword id="6355470" type="CITY" weightage="60" keywordseo="Law">law</keyword> that's already on the books, Wall Street professionals could finally be enticed to provide investigators the information they need.</span></p><p><span style="line-height: 1.5em;"><span>Right now they have little incentive to talk. A decades-old DOJ whistleblower program has payouts capped at just $1.6 million for banking violation tipsters. For comparison, the biggest fine paid by the SEC for a tip was $30 million.</span></span></p><p class="p1">Already, the SEC whistleblower program has paid out $50 million to Wall Street whistleblowers and its fund has hundreds of millions more for tipster payouts to provide Wall Street professionals who tip them off on securities violations.</p><p class="p1">The DOJ doesn't have that kind of money, and has struggled to get banking sector employees behind bars. Wrongdoers just end up paying fines.</p><p class="p1">Paying whistleblowers more could change that though, says Jordan Thomas, chair of the whistleblower representation practice with Labaton Sucharow, a New York law firm.</p><p>Providing similar incentives for bankers could yield the kind of in-the-know tipsters needed to generate convictions for criminals on Wall Street, rather than fines and vague admissions of wrongdoing.</p><p>Thomas isn't alone in seeking broader scope for investigators' whistleblower resources at the Department of Justice.</p><p><a href="http://www.justice.gov/opa/speech/attorney-general-holder-remarks-financial-fraud-prosecutions-nyu-school-law">In a speech </a>not too long before his resignation, former United States Attorney General Eric Holder offered one solution.</p><p>He suggested that another program's whistleblower capacity be substantially expanded. In a September 2014 speech, Holder said:</p><blockquote class="blockquote"><p>"[W]e should think about modifying the FIRREA whistleblower provision - perhaps to False Claims Act levels - to increase its incentives for individual cooperation. This could significantly improve the Justice Department's ability to gather evidence of wrongdoing while complex financial crimes are still in progress - making it easier to complete investigations and to stop misconduct before it becomes so widespread that it foments the next crisis."<span style="line-height: 1.5em;"> </span></p></blockquote><p><span style="line-height: 1.5em;">Later in his speech, Holder acknowledged the DOJ's $1.6 million capped payout for banking tipsters was "paltry."</span></p><p><span style="line-height: 1.5em;">The SEC's Wall Street whistleblower program yields thousands of tips annually, many of which go unused because they are irrelevant to the agency's mission. The SEC cannot dish out fees for whistleblowers in the banking sector of finance - only securities.</span></p><p><span style="line-height: 1.5em;">Arming the DOJ to better confront banking violations would give tipsters the opportunity to change that. </span></p><p><span style="line-height: 1.5em;">"There's no incentive to underpay corporate whistleblowers, they are leading a quiet revolution in white collar law enforcement," Thomas said.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/point-break-1991-movie-trailer-2015-5">A 'Point Break' remake is on the way - but it has nothing on the 1991 cult classic</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hraG5idTp2h82Zo-m--_xq3x0GJW_I1g" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'hraG5idTp2h82Zo-m--_xq3x0GJW_I1g',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

What the government needs to do to stop Wall Street crime seems pretty obvious

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/580a34b08d83b4a6018b5ff7-724/us-senator-warren-urges-obama-to-replace-head-of-sec.jpg" alt="U.S. Senator Elizabeth Warren (D-MA) questions Wells Fargo CEO John Stumpf (not pictured) during his testimony before a Senate Banking Committee hearing on the firm's sales practices on Capitol Hill in Washington, U.S., September 20, 2016.   REUTERS/Gary Cameron" data-mce-source="Thomson Reuters" data-mce-caption="Senator Warren questions Wells Fargo CEO Stumpf at Senate Banking Committee hearing on firm's sales practices on Capitol Hill in Washington" /><p class="source"><span>Thomson Reuters</span></p><p class="caption">Senator Warren questions Wells Fargo CEO Stumpf at Senate Banking Committee hearing on firm's sales practices on Capitol Hill in Washington</p></div><p></p></div></div>Senator Elizabeth Warren (D-MA) would like to know if the Department of Justice is for real right now.</p><p>A few weeks ago, Mylan, the company that makes anti-allergy drug, EpiPen, announced that it had come to a settlement with the DOJ for <a href="http://www.businessinsider.com/medicaid-and-medicare-confirm-mylan-overcharged-them-2016-10">overcharging <span>The </span></a><span><a href="http://www.businessinsider.com/medicaid-and-medicare-confirm-mylan-overcharged-them-2016-10">Centers for Medicare &amp; Medicaid Services</a> (CMS) for EpiPen over a number of years.</span></p><p><span>The tab, said the company, <a href="http://newsroom.mylan.com/2016-10-07-Mylan-Agrees-to-Settlement-on-Medicaid-Rebate-Classification-for-EpiPen-Auto-Injector">would come to $465 million. </a>Under the terms, Mylan would not admit to any wrongdoing for classifying its drug as a generic rather than branded medication. <span>Makers of brand-name drugs have to pay higher rebates to states than generics - 23.1% versus 13%. Also,they have to pay additional rebates if their price increases rise more than inflation. </span></span></p><p><span><span>Warren thinks this settlement is light, and informed the DOJ of <a href="http://www.warren.senate.gov/files/documents/2016-10-21EpiPen_settlement_letter_final.pdf">her feelings in a letter</a>. Her staff calculated how much Mylan made from this misclassification, and she thinks the company owes the government $530 million.</span></span></p><p><span><span>At least.</span></span></p><p><span><span>From the letter:</span></span></p><p style="padding-left: 30px;"><span><span>To summarize: If the terms of the agreement announced by Mylan are correct, Mylan wrongly classified EpiPen to maximize its Medicaid revenue, and did not change this classification despite being "expressly told" by CMS that it was wrong. The Justice Department awarded Mylan by imposing a fine that is about $65 million less than the amount Mylan made by defrauding Medicare and Medicaid. In addition, you permitted Mylan to avoid admitting any admission of wrongdoing, collected no additional penalties under the False Claims Act, and blocked other actions against the company that would have require greater accountability.</span></span></p><p><span><span>Under the False Claims Act, companies can be fined $5,500-$11,000 per false claim they've made to the government, plus three times damages.</span></span></p><p><span><span>Mylan came under intense scrutiny in August after it raised the price of a 2-pack of EpiPen to $608 from $100 when it bought the drug in 2007. After Mylan CEO Heather Bresch was called to a hearing Capitol Hill and politicians did a lot of handwringing, CMS also figured out that the company had overcharged them. <a href="http://www.businessinsider.com/sec-enforcement-going-after-epipen-2016-10">The SEC is also investigating Mylan.<br /></a></span></span></p><p><span><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/580a34f08d83b4b8628b5a5e-2223/rtsoubv.jpg" alt="heather bresch" data-mce-source="Reuters" data-mce-caption="Mylan NL CEO Heather Bresch waits to testify before a House Oversight and Government Reform Committee hearing on the Rising Price of EpiPens, at the Capitol in Washington, U.S. September 21, 2016." /><p class="source"><span>Reuters</span></p><p class="caption">Mylan NL CEO Heather Bresch waits to testify before a House Oversight and Government Reform Committee hearing on the Rising Price of EpiPens, at the Capitol in Washington, U.S. September 21, 2016.</p></div><p></p></div></div></span></span></p><h2><span><span>There could be a fib here, guys</span></span></h2><p><span><span>Now here's the thing, Warren was careful write "If the terms of this settlement announced by Mylan are accurate..." to close her letter.</span></span></p><p><span><span>And that's because from Wall Street to Washington, ever since this thing was announced, people have been questioning whether or not Mylan was being totally honest about it.</span></span></p><p><span><span>The conundrum was part of a note Alliance Bernstein sent out earlier this week:</span></span></p><p style="padding-left: 30px;"><span><span><strong>"No executed" Mylan</strong><span>-</span><strong>DoJ agreement</strong><span>. Last week we noted 'slight concern' Mylan may have been too quick to announce it reached agreement on EpiPen. This week, Senator Grassley demanded more disclosure on the deal and a DC newsletter noted that "</span><em>There is no executed settlement agreement," a Justice spokesperson said by email in response to Inside Health Policy inquiry about the mere existence of a settlement. "The Department declines to comment on the company's announcement</em><span>".   This could be just keeping a stiff upper lip, but does not do much to make us feel this is a 'done deal'.</span></span></span></p><p><span><span><span>So someone at DOJ says there's no agreement, and Senator Chuck Grassley has been poking around asking questions.</span></span></span></p><p><span><span><span>So Mylan, do you have an agreement or not? Senator Warren is not the only one who wants to know.</span></span></span></p><p><span><span><span>We've reached out to Mylan for comment, we'll update this when we hear back.</span></span></span></p>     <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/bass-pro-shops-buying-rival-cabelas-55-billion-2016-10">Bass Pro Shops is buying its rival Cabela's for $5.5 billion</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="J5Y2s4NjE6cl-EmryVMlvHqpc9eW4zeu" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'J5Y2s4NjE6cl-EmryVMlvHqpc9eW4zeu',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

You Searched For "sec wrongdoing admissions" and got 9 results

The SEC doesn't want to let firms and individuals get by without admitting wrongdoing anymore as part of enforcement actions

Carla Mozée

The head of the SEC will step down at the end of the Obama administration

Matt Turner

The New Head Of The SEC Is Thinking Of Putting A Major Leash On Stock Exchanges

Steven Perlberg

THE DAYS OF 'NEITHER ADMIT NOR DENY' ARE GONE: The SEC Gets JPMorgan To Admit To Violating Securities Laws

Julia La Roche

HEDGE FUNDER FALCONE TO PAY $18 MILLION FINE AND ACCEPT 5-YEAR BAN FROM INDUSTRY

Julia La Roche

The SEC Wants To Make Banks Actually Admit It When They Do Something Wrong

Steven Perlberg

Palantir, ex-TPG exec Bill McGlashan, and Elon Musk have all tapped John Hueston for legal firepower. Insiders explain how the one-time Enron prosecutor became a fixer for the rich and powerful.

Casey Sullivan

What the government needs to do to stop Wall Street crime seems pretty obvious

Jonathan Marino

Elizabeth Warren may have just caught the maker of EpiPen in a big lie

Linette Lopez