Judicial Oversight of Governmental Consent Decrees in Wake of 'Citigroup'

, New York Law Journal


Barry J. Pollack and Addy R. Schmitt of Miller Chevalier Chartered, discuss the recent case 'SEC v. Citigroup', where the U.S. Court of Appeals for the Second Circuit reversed an order refusing to approve a proposed consent decree that would have settled a regulatory enforcement action the SEC had brought against Citigroup. They write: "Whether or not the Second Circuit's decision makes sense in the context of the facts and the parties before it, the highly deferential standard of district court review of such consent decrees articulated by the Second Circuit may prove to be overly restrictive when applied in other settings."

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