SEC Changes “Neither Admit Nor Deny” Practice for Criminal Conviction Cases
The SEC will no longer permit defendants who admit relevant conduct in parallel criminal proceedings to “neither admit nor deny” that conduct in settlement orders.
The SEC has had a longstanding practice that permitted all defendants who entered into settlements neither to admit nor deny the factual allegations in the charging document. This practice applied even where a defendant admitted conduct in a parallel criminal case that was relevant to the subject of the SEC settlement.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
Copy link to share post