UH OH! THERE IS A WOMAN IN CHARGE NOW: SEC ‘Actively Reviewing’ Big Bank Settlement Policy
WASHINGTON — The new head of the Securities and Exchange Commission told Sen. Elizabeth Warren (D-Mass.) Monday that she is reviewing whether her enforcement division has been too lax on Wall Street by allowing banks to settle enforcement actions without going to trial.
“I am actively reviewing the scope of the Commission’s neither-admit-nor-deny settlement policy with the leadership of the Division of Enforcement to determine what, if any, changes may be warranted and whether the SEC is making full appropriate use of its leverage in the settlement process,” Mary Jo White told Warren in the letter, provided to HuffPost.
The letter is in response to questions Warren raised in May letters to the SEC, , Attorney General Eric Holder and Federal Reserve Chairman Ben Bernanke.
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