Prof. Painter Testifies on Federal Financial Regulators' Settlement Practices

Professor Richard Painter testified before the Financial Services Committee of the U.S. House of Representatives during a hearing entitled "Examining the Settlement Practices of U.S. Financial Regulators." Painter said, "The S.E.C. needs discretion to decide how limited enforcement resources should be used in a way that maximizes investor protection. Federal courts should not define the way the S.E.C. litigates and settles cases. Congress also should resist the temptation to micromanage S.E.C. decision making in specific cases or even in broad categories of cases." To read Painter's testimony, click here. To watch the hearing, click here (Painter is on Panel II). For more information on the hearing, click here.