Abstract
Purpose – To educate the audience about a significant change in SEC enforcement policy Design/methodology/approach – Research was performed of SEC officials' recent public statements about the change in enforcement policy. Findings – The SEC has increased enforcement activity in recent years, and the commission will begin insisting on admissions of wrongdoing in future settlement negotiations. Practical implications – Private litigants will seize on any admissions exacted by the SEC from corporate defendants. This could result in huge damage awards in private civil litigation. Originality/value – Explanation of the SEC's recent change in enforcement policy, specifically, how the SEC will demand certain corporate defendants admit to wrongdoing as part of any settlement with the commission.
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