Corporate Governance » When Does The SEC Target Individuals?

When Does The SEC Target Individuals?

September 11, 2013

A red chair amongst black ones.

In the Fabrice Tourre case, the SEC was accused of targeting a low-level employee instead of a culpable employer. In the case against Bank of America, the opposite charge was leveled: Judge Jed Rakoff wondered why a company was being targeted instead of the individuals who had transgressed. A study out of Stanford looked at disclosure-related SEC enforcement actions since 2000 and determined what actually occurs, and which executive or employees get charged and how they are penalized.

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