Wall Street Is Furious Over Rising Fines From SEC

..“There is no meaningful cap or calculation that ever really takes place,” said David Rosenfeld, a law professor at Northern Illinois University and former senior SEC enforcement official whose work examining SEC fines was cited by the New Civil Liberties Alliance in its arguments to the high court. “They feel they have unfettered discretion, and so the penalty number is made up out of whole cloth.”…

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