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What is the SEC going to do with the $4.55B settlement?
by electriclove 2y ago
What is the SEC going to do with the $4.55B settlement?
- Osiris 2y agoGive it to all the people that lost money in the scam? Isn't that generally what those settlements are for?
- StressedDev 2y agoIf it's a fine, it probably goes to the United States Treasury or the SEC's budget. I also wouldn't be surprised if the settlement was not fully paid.
- seanhunter 2y agoHere’s how the SEC themselves talk about their thought process around settlements https://www.sec.gov/newsroom/speeches-statements/clayton-statement-regarding-offers-settlement https://www.sec.gov/newsroom/speeches-statements/clayton-sta... It’s basically usually some mix of fine and restitution, with the bulk going to restitution in these sorts of cases but with more fine in cases where the defendant should have known better (eg settlements with big banks) but the actual nominal loss to investors is lower than the regulator believes the firm should have to pay up.