News Alert: SEC likely to win its defense of ‘no-admit’ Citigroup settlement, appellate panel says

	Thursday, March 15, 2012 10:58:30 AM ECONOMY/BUSINESS NEWS ALERT SEC likely to win its defense of 'no-admit' Citigroup settlement, appellate panel says Federal regulators won an initial round Thursday in their defense of Wall Street fraud settlements that include no admission of wrongdoing. The Securities and Exchange Commission and Citigroup "have a strong likelihood of success" in their joint effort to overturn a judge's decision to reject their $285 million fraud settlement, a three-judge panel of Second Circuit Court of Appeals declared. The appeals court agreed to consider whether U.S. District Court Judge Jed S. Rakoff overstepped his authority in rejecting one of the biggest settlements to emerge from the financial crisis, Citigroup's proposed $285 million deal with the Securities and Exchange Commission. Read more at: http://www.washingtonpost.com/business/economy/sec-likely-to-win-its-defense-of-no-admit-citigroup-settlement-appellate-panel-says/2012/01/30/gIQAnVcDES_story.html Or visit PostBusiness.com. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071  ©2011 The Washington Post Privacy Policy