Wednesday, 1 October 2014
Last updated 14 hours ago
Jun 20 2013 | 11:25am ET
Facing criticism for allowing defendants to settle without admitting wrongdoing, the Securities and Exchange Commission will limit the practice.
New SEC Chairman Mary Jo White said that some companies and individuals will have to accept liability in "cases where… it's very important to have that public acknowledgement." Most defendants will still be allowed to settle without admitting or denying guilt.
White said that decisions would be made on a "case-by-case" basis, and defended the SEC's standard practice, saying it would always "be a major tool in the arsenal and that the SEC "won't let" the new policy delay enforcement efforts.
While the practice has been derided, the SEC said it allows it to resolve cases more quickly and cheaply. But it has been moving to limit the practice, last year instituting a rule that bars defendants who have already admitted guilt in criminal proceedings from using the boilerplate.
Those defendants denied the "without admitting or denying" formula will now have the choice of accepting liability, or fighting the SEC's allegations in court.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...