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Khuzami Says Seeking Admissions of Guilt Would Slow Probes

The U.S. Securities and Exchange Commission’s enforcement chief said letting defendants settle cases without admitting wrongdoing helps maximize the agency’s ability to investigate fraud with limited resources.

“If you can reach a settlement that gets you most or all of what you think you can get” in litigation, “then you’ve fulfilled your mission to investors whose cases might not get investigated, or might not get investigated sooner, if you insist on admissions,” Robert Khuzami said today at a securities law conference in New York.