SEC lawyer: corporate negligence charge a game-changer
Firms must break down "natural silos" to prevent misleading investors on complex products
The ability to press a charge of corporate negligence on firms in enforcement cases where no one individual is to blame has been "a game changer" for the US Securities and Exchange Commission (SEC), a senior enforcement attorney at the watchdog told the Structured Products Americas conference in Miami yesterday (May 19).
Reflecting on the SEC's settlement with UBS last October – which saw the bank pay $19.5 million to settle claims of making false and misleading statements in the disclosures for
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