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SEC to Demand Some Companies Admit Wrongdoing
Published:
Friday, 6 Jan 2012 | 3:32 PM ET
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By: Reuters
U.S. securities regulators will no longer let companies settle civil cases without admitting or denying the charges if they have already admitted to wrongdoing in parallel criminal cases.
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Getty Images The U.S. Securities and Exchange Commission seal hangs on the facade of its building in Washington, DC. |
] on the grounds that the bank had not admitted to wrongdoing. In that case, no parallel criminal charges have been filed.
Khuzami said the SEC's new policy only applies in limited circumstances where defendants have already admitted to misconduct in parallel criminal cases.
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