Posts tagged “control-person” charge.
Earlier this month, the SEC used a "control-person" charge in a settled action against an elected municipal official in connection with municipal bond offering. Enforcement touted that "first" on the Monday after: "An enforcement model with no penalties was not sustainable," Enforcement Director Andrew Ceresney, said during a panel discussion. "The most effective deterrent is individual liability, so we need to be focused on that." (at SIFMA Monday, Nov. 10 as reported Bloomberg) But the SEC's releases, and press coverage of remarks in the days after, did not disclose ...