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2014

Boston College Law School

Boston College Law School Faculty Papers

Financial Regulation

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Unfit For Duty: The Officer And Director Bar As A Remedy For Fraud, Renee M. Jones Aug 2014

Unfit For Duty: The Officer And Director Bar As A Remedy For Fraud, Renee M. Jones

Boston College Law School Faculty Papers

Many commentators have questioned the efficacy of the SEC’s enforcement program in the aftermath of the 2008 financial crisis. Some criticize the agency for allowing corporate defendants to settle charges without admitting or denying liability. Others dispute the impact of astronomical fines levied against too-big-to-fail financial institutions. Still others urge prosecutors to bring criminal charges against those who led the failed financial firms to ruin. This Article, written for a symposium on SEC enforcement, focuses attention on an underutilized weapon in the SEC’s arsenal: the power to bar officers and directors of public companies from future service in ...