SEC Ends Decades-Old ‘Gag Rule’ in Enforcement Settlements
Action Required: Review firm policies regarding public statements and disclosure protocols in the event of future regulatory enforcement actions.
The SEC has officially ended its long-standing 'gag rule,' which previously prohibited defendants in enforcement settlements from publicly denying allegations. This regulatory shift impacts how financial firms and advisors manage public relations and legal disclosures following enforcement actions, potentially allowing for more transparent communication regarding settlements.
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