$285M SEC/Citi Settlement Over Mtg Derivatives Kiboshed; Judge: Policy Of Allowing Targets Off Hook w/out Admissions, Denials Not In Public Interest
Written by Administrator on November 29th, 2011In New York City, The New York Times reports:A federal judge in New York on Monday threw out a settlement between the Securities and Exchange Commission and Citigroup over a 2007 mortgage derivatives deal, saying that the S.E.C.’s policy of settling cases by allowing a company to neither admit nor deny the agency’s allegations did not satisfy the law.The judge, Jed S. Rakoff of United States
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Tags: $285M, Admissions, allowing, Denials, Derivatives, Hook, Interest, Judge, Kiboshed, over, Policy, Public, SEC/Citi, Settlement, Targets, w/out
