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Individuals vs. Companies
As the chart below illustrates, the pace of SEC settlements slowed during the fourth quarter of 2008, bringing the total to 672 for the year. This represented a decline from the 699 settlements reached in 2007 and was the second-lowest total in any full year since SOX. In the fourth quarter, the SEC settled with 123 defendants, as compared to a quarterly pace of 185 earlier in the year.
click image to enlarge Company settlements totaled only 157 in 2008, the lowest number in any full year since SOX. Since the passage of SOX, SEC settlements have included monetary payments for more than half of company defendants in federal court and administrative cases. For individual defendants, monetary payments have been a component of over 80% of settlements in federal court cases but in only 18% of administrative cases (see table, below).
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