A Trap for the Unwary: The SEC Restores Former Waiver Policy for Enforcement Action Collateral Consequences

On February 11, Acting Chair of the SEC, Allison Herren Lee, announced a return to the Division of Enforcement’s prior practice of considering enforcement action settlement offers separately from requests for waivers of collateral consequences that arise from the terms or remedies in the anticipated settlement, including certain automatic disqualifications.

This recorded discussion among Sidley Securities Enforcement and Regulatory group partners Barry Rashkover and Griff Green and counsel Elizabeth Marino explain the issues and preview the implications of these changes.