Another SEC triumph.
Thursday, February 5, 2009
"Two former Enron lawyers resolved charges by the [SEC] that they helped executives at the defunct energy trader hide share sales and conceal losses. ... [They] admitted no wrongdoing. ... SEC spokesman John Heine said the settlement "filings speak for themselves'," Houston Chronicle, 17 January 2009.
"Without penalty, General Motors Corp. settled a [SEC] complaint related to accounting missteps the auto makers made in recent years, including disclosures related to pensions derivatives and precious metals. ... The SEC said GM settled the claims 'without admitting or denying' them, but agreed not to violate certain securities rules again", my emphasis, John Stoll and Kara Scannell at the WSJ, 23 January 2009.
I agree with Heine.