Jul
13
Wall Street Cop Revises In-House Court After Claims of Bias
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SEC changes to give defendants more power to depose witnesses
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Lynn Tilton and others have said court is tilted against them
After months of criticism that its in-house court unfairly tilts justice against defendants, Wall Street’s top cop is making changes that could make the playing field more level.
The most significant alterations, which the Securities and Exchange Commission approved Wednesday, include giving those accused of financial misconduct more time to prepare for trial and stepped up ability to depose witnesses. While the SEC has said its administrative judges are independent arbitrators, defendants including Patriarch Partners founder Lynn Tilton have argued that the process lacks the legal protections available to them in federal court…
Wall Street Cop Revises In-House Court After Claims of Bias
