SIFMA today released the following statement from Saima S. Ahmed, SIFMA Executive Vice President and General Counsel, on the Securities and Exchange Commission’s announcement related to the Simultaneous Commission Consideration of Settlement Offers and Related Waiver Requests:
“We appreciate the SEC’s decision to restore its prior practice of permitting a settling entity in an SEC enforcement action to request that the Commission consider simultaneously both an offer of settlement and a request for waivers from resulting collateral consequences. The terms of SEC settlements can trigger significant collateral consequences for firms, and this is an important initial step in making the waiver process more equitable and predictable. Improving the transparency, efficiency, and predictability of the SEC’s waiver process is a key issue for SIFMA’s members, and we look forward to engaging with the SEC on this important topic.”
