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U.S. securities regulator will seek admissions of guilt, bars from industry -official By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The seal of U.S. Securities and Exchange Commission is seen in Washington D.C. U.S.A, May 12, 2021. REUTERS/Andrew Kelly

Chris Prentice

WASHINGTON, (Reuters) – The U.S. Securities and Exchange Commission indicated Wednesday that it will take a more aggressive stance against corporate executives and gatekeepers. This includes focusing on seeking guilty admissions and barring industry from certain industries when necessary.

Gurbir Grewal, SEC Enforcement Director, spoke out to highlight the need for investors to trust Corporate America and the markets. This was a strategic shift by the U.S. market regulator.

Grewal, a representative of the industry, stated, “We will, when appropriate circumstances require admissions in places that accountability and accept responsibility are in the public interests.”

Trump Administration SEC officials stated such a policy wouldn’t be considered a priority. Many of the resolutions reached by the agency with executives, public companies and financial firms have been completed without either side admitting to or denigrating the charges.

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