Or, has it really? They said this week that it would no longer allow defendants to say they neither admit nor deny civil fraud or insider trading charges when, at the same time, they admit to or have been convicted of criminal violations. It 'used to be' that companies would pay a fine without admitting wrongdoing, which improved its positions vis a vis investor suits. And it will still be if there are no criminal violations. Most of the suits the SEC brings include only civil not crimnal violations. Furthermore, even if there has been a criminal case, the SEC will have the option of not using the facts from the criminal case when it is prosecuting a civil case against a particular firm.
No comments:
Post a Comment