Jacob Frenkel Comments on SEC Settlement
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Attorney Jacob Frenkel recently commented to Law360 for an article titled “SEC Lobs Another Soft Admission With Credit Suisse Deal” (10/6/2016) on Credit Suisse’s admission of wrongdoing.
“A settlement such as this, and the company going in early and cooperating, also enables the company to participate actively in the formulation of the language of the final order,” said Mr. Frenkel, a partner in the firm’s Washington, D.C. office.
The deal, which was reached last week, has Credit Suisse admitting to allegations of negligence-based fraud rather than deliberate – or scienter-based – fraud, is another example of a major financial firm making some concessions to the agency in order to escape a much more significant penalty.
To read the full article, please click here.
“A settlement such as this, and the company going in early and cooperating, also enables the company to participate actively in the formulation of the language of the final order,” said Mr. Frenkel, a partner in the firm’s Washington, D.C. office.
The deal, which was reached last week, has Credit Suisse admitting to allegations of negligence-based fraud rather than deliberate – or scienter-based – fraud, is another example of a major financial firm making some concessions to the agency in order to escape a much more significant penalty.
To read the full article, please click here.
