SEC chief defends ’neither admit nor deny’ but will review

The new head of the US Securities and Exchange Commission has defended the agency’s policy of letting firms settle civil charges without admitting or denying them, but also pledged to review the practice.

The practice has come under fire from some federal judges and lawmakers who argue the SEC should insist on an admission of guilt.

via Business feed http://www.scmp.com/business/banking-finance/article/1232797/sec-chief-defends-neither-admit-nor-deny-will-review