This does not affect the stance the SEC takes in the Citigroup settlement that Judge Jed Rakoff rejected. But it seems fair to say that his pressure - in Citigroup and other cases - played a part in stiffening the SEC's stance on admissions of wrongdoing. - GWC
S.E.C. to Change Policy on Companies’ Admission of Guilt - NYTimes.com: "The Securities and Exchange Commission is making a major change in how it settles some securities fraud cases, telling companies that they will no longer be allowed to say they neither admit nor deny the commission’s civil charges when, at the same time, they admit to or have been convicted of criminal violations."'via Blog this'
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