Wall Street Gets Shorter SEC Leash in Repeat-Offender Crackdown
(Bloomberg) -- President Joe Biden’s victory is already leading to consequences for Wall Street, as U.S. regulators are scrapping a Trump-era policy that critics contend helped insulate firms from tougher penalties.At issue are waivers that banks, hedge funds and other financial companies must obtain to protect themselves from knock-on sanctions that are automatically triggered when they settle enforcement cases with the Securities and Exchange Commission. In a major policy shift, the SEC said Thursday it would make it harder for firms to obtain such reprieves.The implications for finan...
Source: yahoo.com