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1/05/2006
SEC Revises Fraud Penalty Standards
SEC Revises Fraud Penalty Standards
Via the LATimes.com:
-- MDT
Fraud Penalty Standards RevisedForm more details about hwe the SEC will apply the new regs, click here for the full article.
January 5, 2006
L.A. Times
From Associated Press
and Bloomberg News
The Securities and Exchange Commission on Wednesday announced new guidelines for fining companies for fraudulent conduct, addressing an issue that has split the agency's commissioners along political lines. The standards are meant to bring "clarity, consistency and predictability" to the SEC's enforcement efforts, Chairman Christopher Cox said at a news conference.
Among the factors the SEC will consider in assessing fines: whether a company benefited from the alleged wrongdoing, whether a penalty would further harm shareholders, whether there was widespread complicity and how well management cooperated in the SEC's probe.
-- MDT
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