WASHINGTON, June 18 (Reuters) - U.S. securities regulators
will start asking defendants in some instances to admit to
wrongdoing when they settle cases, U.S. Securities and Exchange
Commission Chair Mary Jo White said on Tuesday.
The change comes after the SEC had faced staunch criticism
from one prominent federal judge and some lawmakers of its
routine policy, in which companies and individuals have been
allowed to settle civil charges without admitting or denying the
White, at the Wall Street Journal's annual "CFO Network"
event, said she has decided the SEC will in certain
circumstances start trying to extract admissions.
However, the standard policy of settling without admitting
or denying the charges will still remain for the majority of
cases, she added.