Wednesday, November 9, 2011

Becker Will Not Be Prosecuted

The Justice Department has decided -- properly, I believe -- not to file criminal charges against former SEC general counsel David M. Becker for participating in SEC policymaking relating to the distribution of funds from the Madoff estate when he had a personal stake in the outcome, a matter we discussed over five weeks ago.  See here.  Although I believe Becker's failure to recuse himself on his own was an exercise in poor judgment, he did report the potential conflict to his ethics officer, who approved his participation, and SEC chairwoman Mary L. Schapiro, who apparently failed to question it.  Hopefully, the SEC will not forget that errors in judgment should rarely, if ever, be actionable.

(goldman)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2011/11/becker-will-not-be-prosecuted.html

SEC, Securities | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef015436bf7710970c

Listed below are links to weblogs that reference Becker Will Not Be Prosecuted:

Comments

Post a comment