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Where are the SEC Federal Court Trials?

Bruce Carton | November 24, 2015

After a surge in FY 2014, the number of trials that the SEC is completing in federal court appears to be drying up.

In February 2014, I observed that several factors had converged to spur an increase in SEC trials, and that these factors would likely continue to push up the number of SEC cases that went to trial in the future. These factors included the fact that SEC Chair Mary Jo White believed that trials were an important way for the SEC seek public accountability from defendants and to develop “a full factual record of wrongdoing that should foster better development of the law.” In addition, under the SEC's change in settlement policy in June 2013, the SEC began demanding admissions in certain egregious cases. "This new policy will surely result in more cases going to trial," I opined, because some defendants would be unwilling to admit to...

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