Media Coverage

WMDT 47
Newark, NJ
Thursday, September 19, 2013

Kevin Chan was hoping to find a class at Rutgers Business School that would allow him to tap into his burgeoning entrepreneurial spirit. When he received a notice last semester about the Experiential Learning Program promising hands-on experience working with small companies, he signed up immediately.  "It makes them bring to bear everything they've learned," said Daniel Stubbs, a clinical assistant professor of accounting and information systems.

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New Brunswick, N.J.
Thursday, September 19, 2013

Campuses nationwide are cluttered with bulletin boards, but some think it is time to make outdated technology a thing of the past.

Three Rutgers Business School students are creating a website, CampusBord, to update students on campus happenings. They are currently relying on crowd funding to get the project off the ground.

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Astoria, NY
Wednesday, September 18, 2013

Broadcast Music, Inc. (BMI), a global leader in music rights management, today announced that the Board of Directors has unanimously elected Michael O'Neill as Chief Executive Officer effective September 16, 2013. O'Neill will also become a member of the Board. O'Neill succeeds BMI's current President and CEO Del Bryant who announced his desire to step down earlier this year after almost 42 years of continuous service to the company. O'Neill will assume the title of President upon Bryant's retirement in June 2014.

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Tampa, FL
Monday, September 16, 2013

"I don't think there's any question that students have become more competitive, under more pressure and, as a result, tend to excuse more from themselves and other students, and that's abetted by the adults around them," Donald L. McCabe, a professor at Rutgers Business School who researches cheating, told the New York Times.

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CNBC
Englewood Cliffs, NJ
Friday, September 13, 2013

Beginning in the 1980s, investment banks got into the business of trading for their own accounts. "The ethical problems came when proprietary trading began to overshadow customer services," Michael Santoro, professor of business ethics at Rutgers Business School, wrote in his book, "Wall Street Values."

Greedy Wall Street behavior—as captured by Michael Douglas's Gordon Gekko in "Wall Street"—benefited the rest of us, to a certain extent. "When you're serving clients, greed can work," Santoro said. "If your profit is based on the prosperity of the client, what's good for your client is good for society."

But in the new financial world order, Wall Street greed is about just that—Wall Street's interests. "The problem on Wall Street today is greed is no longer working for everyone else because the interest of Wall Street is separated from the interest of the rest of society," Santoro said.

 

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Washington, DC
Monday, September 9, 2013

Looking for an academic direction with terrific growth potential? Some traditional fields are newly hot at the bachelor's level; in other cases, enterprising colleges are creating new majors in emerging fields. Rutgers Business School introduced a business analytics and information technology major for undergrads in 2011.

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FierceMarkets
Washington, DC
Monday, September 9, 2013

In his Operations and Business Management article of September 9, Ron Shinkman writes: "During the course of research for FierceHealthFinance's most recent CEO compensation survey, it appeared Houston Methodist Hospital had shelled out more than $18 million in compensation to three of its highest-paid executives over 2010 and 2011, according to the tax returns of that city's largest acute care facility."

Shinkman contacted James Abruzzo, co-founder of the Institute for Ethical Leadership, and quotes: "Best practices would be for the organization to not only be transparent on the 990s [Return of Organization Exempt From Income Tax] but it should be transparent and proactive on its financial statements."

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HalEisner.com
Newark, NJ
Monday, September 9, 2013

Rutgers Business School student Chris Arthur and two of his enterprising pals have a possible solution for those missing events or learning about them too late.

It's an app – in development.

Arthur and his friends, RBS seniors Christopher Akparanta and Paul Aderinto, call their idea CampusBord and with the encouragement of Rutgers Business School Professor Brett Gilbert, they are using the crowdfunding platform RocketHub.com to raise $35,000 to begin the process of turning their idea into a marketable product.

"The mission of CampusBord is to maximize the collegiate experience by providing students and organizations with an efficient means of connecting to each other and what's happening on their campus," the students said in a description posted on RocketHub.

"Our vision is to make cluttered bulletin boards a thing of the past," the students explained, "and to build the leading digital bulletin board and social service."

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New Brunswick, NJ
Friday, September 6, 2013

Jonathan Eckstein, a professor in the Department of Management Science and Information Systems said: “Our idea was ‘let’s not just have an MIS major again, let’s have a combination of MIS and business analytics — with more mathematical and statistical content than a regular MIS major would have or the [Information Technology and Informatics] major in the [School of Communication and Information].”

The major is divided into three levels of concentration, he said. The information technology level focuses on managing data and learning about databases and corporate computer systems.

The second level, data analytics, pays attention to both the management and sophisticated analysis of data. Eckstein said the ability to pinpoint patterns in data has become increasing more important in the industry.

Decision analytics, the final level, teaches students how to apply the patterns in their data to make a decision.

According to Eckstein, the creation of the undergraduate major in Business Analytics and Information Technology (BAIT) began when a group of faculty from the Department of Management Science and Information Systems began developing ideas for the major. They then assembled an advisory board from the industry, which included corporations like Accenture, Bloomberg, Citigroup, Deloitte Consulting LLP and Johnson & Johnson. The department brought the entire business school faculty to a meeting to vote on the final, polished curriculum for BAIT.

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London, UK
Thursday, September 5, 2013

Kelly Branter, the executive director of Rutgers Business School’s international EMBA programs in Asia, said that foreign students gain unique and valuable expertise at its Beijing, Shanghai and Singapore campuses. On average, classes are made up from students from 15 different nationalities, from places as far as Tanzania and Colombia. “The world is shrinking,” Branter said. “Organizations are looking for their next generation of global leaders, and things are going to continue to change as the focus turns even more to China and other important new markets.”

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Tavis Smiley
New York, NY
Monday, September 2, 2013

Nancy DiTomaso, professor of Management and Global Business and vice dean for faculty and research at Rutgers Business School, has studied workforce diversity for more than 30 years. Her specialties include the management of diversity and change and of knowledge-based organizations. She's co-authored/co-edited several books and had articles published in numerous journals. In her latest text, The American Non-Dilemma, DiTomaso weaves together research on both race and class, along with life experiences of her interview subjects, in an exploration of racial inequalities in the workplace based on favoritism versus discrimination.

View video and Read transcript



Money News
Newark, NJ
Wednesday, August 28, 2013

The $85 million building represents an expansion of Rutgers Business School’s presence and reflects its growing importance in the larger university community. It is also a dramatic sign of how a decades-old campus once perceived as an outlier continues to morph into one of the university’s most desirable places to live and study.

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Basking Ridge, NJ
Tuesday, August 20, 2013

At its 2013 Scholarship Dinner on August 7, Affinity Credit Union Scholarship Committee Member Mike Cirillo presented the Richard A. Romano Scholarship to Jasmine Lin, a rising sophomore at Rutgers University and resident of Warren.

The scholarship was established in honor of Richard A. Romano for his outstanding contributions and unwavering dedication throughout his many years of volunteer service on the Affinity Federal Credit Union Board of Directors along with his service as executive-in-residence and member of the Rutgers Business School Advisory Board.

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FIND-MBA
Berlin, Germany
Tuesday, August 20, 2013

“For the people who have done well, they've had science backgrounds or experience in the healthcare industry,” says Mahmud Hassan, Director of the Rutgers MBA in Pharmaceutical Management, adding that “they may have worked not directly with the pharma industry, but indirectly, like as a consultant, or as a researcher.”

Graduates of the Rutgers program by and large go into “Big Pharma” firms – giants like Pfizer, Novartis, and GlaxoSmithKline, which, from a revenue standpoint, make up a large percentage of the industry. These companies are so large and sprawling that they can offer jobs for MBA graduates with an array of interests, from roles in research and development and drug delivery management to corporate finance and marketing.

Because the pharmaceutical industry is so large and complex, a huge variety of jobs await well-prepared MBA graduates. In the Rutgers MBA program, students who specialize in pharmaceuticals can also choose a second concentration, usually focusing on a functional area.

“Supply chain and marketing – those are the most popular combinations,” says Hassan, who notes that a good number of other pharma students
pursue a finance concentration.

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NJ.com
Newark, NJ
Sunday, August 18, 2013

"It’s a very good idea,” said Ron Shapiro, director of the Center for Real Estate Studies at Rutgers Business School. “Clearly, it’s an idea the marketplace has had for some time.” But he emphasized the move should be made slowly, and with caution.

Fannie and Freddie hold between $9 trillion and $10 trillion in mortgages. Getting private investors to carry that load will take time.

“I don’t think there’s enough private capital out there today to take care of what government agencies are supposed to do,” said Shapiro. “And investors are still a little leery. It’s only been a few years since the economic crisis. It’s a great concept, but finding who in the private sector will want to take those risks may be a challenge.”

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New York, NY
Wednesday, August 14, 2013

The bank's infamous "London whale" trades involved complex financial products, but prosecutors alleged that a cover-up by former JPMorgan Chase & Co. employees involved simple lies.

The accusation was part of criminal charges filed against two mid-level JPMorgan employees accused of hiding massive trading losses, which ultimately cost the nation's largest bank more than $6 billion and rekindled fears of the financial crisis.

Critics were quick to complain the cases did not go far enough. No senior executives were named by either prosecutors or the U.S. Securities and Exchange Commission, which filed a parallel civil case against the former JPMorgan employees.

Michael Santoro, a professor of business ethics in the Department of Management and Global Business at Rutgers Business School, said authorities should have taken administrative or civil steps to hold executives accountable for failing to manage rogue employees.

"When are people who are responsible going to be held responsible?" Santoro said. "The government is missing an important opportunity to bring accountability to the banking system."

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Washington, DC
Friday, August 2, 2013

Fabrice Tourre, the former Goldman Sachs Group Inc. vice president found liable for his role in a failed $1 billion investment, may have lost his case because jurors rejected his defense that as a junior employee he wasn’t primarily responsible for the transaction.

“Being 28 years old and one of several employees of Goldman Sachs isn’t a defense,” Tom Gorman, a former lawyer with the Securities and Exchange Commission’s Enforcement Division, who is now in private practice, said in an interview.

“This was one of the transactions that was building massive risk into the system,” said Michael Santoro, a lawyer and professor at Rutgers Business School Department of Management and Global Buisness who attended the trial and wrote a blog about it.

“While I think the public is unhappy about not getting a big fish, it’s important the message that young people entering Wall Street get.
Working on Wall Street comes with legal and ethical responsibilities.”

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Fairfield, NJ
Thursday, August 1, 2013

Supply chain management and logistics are hot areas right now and there are so many job opportunities in this region. This is a strong niche for us, and we’re seeing a 100 percent placement rate for our students in internships and jobs,” says Sharon Lydon, executive director for the MBA Program at Rutgers Business School – Newark and New Brunswick. “According to industry analysts, there is a growing need for the leadership skills we provide, as companies streamline their global supply chain processes and procedures to stay competitive.”

She adds, “Pharmaceutical Management is also hot, especially given the concentration of pharmaceutical firms, healthcare companies and hospitals in our region, as well as the expansions brought by the new healthcare law. We’ve had a Pharma MBA program for more than 10 years, and many New Jersey employers are alumni.”

Students are seeking credentials, including MBAs, to both jumpstart and advance their careers. Increasingly, they are pursuing specialized skill sets through customized degree programs.

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The Star-Ledger
Newark, NJ
Thursday, August 1, 2013

The personal ad might have read: “Inventors of innovative, marketable technology seek entrepreneurs. Experience with research grant writing a plus.”

In hopes of helping researchers find business partners who want to build a company around their technology, Rutgers Business School teamed up with the New Jersey Institute of Technology to host the first TechSPARC showcase last week.

The name stands for technology, students, partners, resources and community — all of which organizer Brett Gilbert says play a crucial role in bringing more collaboration to Newark.

“We have a lot of technology available for companies to take and build businesses around,” said Gilbert, a Rutgers professor of management and global business, “but that doesn’t happen because nobody knows about them.”

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Business Wire
New Brunswick, NJ
Wednesday, July 31, 2013

Rutgers Mini-MBA Entrepreneurship Program Offers Two New Enrollment Options.

Each participant in the accelerated course held Oct. 28-Nov. 1 is expected to create an actionable business plan and make a presentation to a mock investor panel as a final project.

Jennie Fine, the Rutgers Center for Management Development Program Manager, said, “While being a successful entrepreneur is highly rewarding, starting and running a business can also be overwhelming, emotionally draining and financially risky. The difference between success and failure often lies in the ability to create a logical plan, mitigate risk, minimize mistakes, and build a strong support system.”

She added, “The Entrepreneurship course in the Rutgers Mini MBA program focuses on these key elements of business success. Taught by both Rutgers faculty and seasoned entrepreneurs, the coursework combines the theory of traditional MBA programs with the real-world entrepreneurial training needed to lead a business venture to success.”

The program fee is $4,995 and includes the new Apple iPad, containing the pre-loaded program materials, for each participant. There are also two new enrollment options for the Entrepreneurship program for enrollees from companies with 10 or fewer employees:

  • Secondary Enrollment—Bring a colleague or advisor to one module of your choosing for $300. (iPad not included.) You will need to show documentation that he or she is a colleague/advisor.
  • Piggyback Enrollment—Two people from the same company can attend, with the first paying the regular fee of $4,995 and the second paying only $2,800. The second enrollment does NOT include an iPad. You will need to show documentation that you are colleagues.

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Washington, DC
Friday, July 26, 2013

Pop culture, white privilege and widening the lens

Ann Hornaday is the chief film critic for The Washington Post

"As a drama about the needless death of a young, unarmed black man, the shattering new movie “Fruitvale Station” has found particular resonance with audiences in the past few weeks. The film stars Michael B. Jordan as Oscar Grant, who was shot by a white Oakland, Calif., transit police officer in 2009. But the scene from the film that has most haunted me does not address racial profiling or any of the events directly related to the shooting.

"It’s New Year’s Eve in San Francisco. On a crowded street, while waiting for his date to go to the bathroom, Oscar strikes up a conversation with a white man around his age, who, like Oscar, has committed a crime. Unlike Oscar, he has clearly rebounded. After they chat about the women in their lives, the stranger confesses that he was so broke when he married his wife that he had to steal her ring. He issues a warning about going down the same road, then cheerfully tells Oscar that he now owns a business and gives him his card.

"That brief but eloquent scene deftly illustrates the subtleties of white privilege — a reality too seldom portrayed in film and too often ignored by its beneficiaries in life.

"In her book “The American Non-Dilemma: Racial Inequality Without Racism,” Rutgers Business School professor Nancy DiTomaso explains how whites, who tend to hold jobs with higher pay and status, also tend to help people they know — most often other whites. The resulting disparities in income and advancement are less grounded in outright discrimination or racial animus than in “in-group favoritism” that’s far more difficult to quantify or eradicate.

"Just as the roots of blacks’ mistrust of the system lie in their unfair treatment over generations, the roots of whites’ optimism can be found in our own history. Like compounded interest from an investment we never made, the advantages white people enjoy derive from past racist practices and present-day unconscious behaviors that create channels no less wide, deep and real for being largely invisible.

"If movies are equipped to do anything, it’s to make those channels visible. And the best films can show viewers how to navigate them. “Fruitvale Station” does that, in just one brief encounter. The San Francisco street scene may begin with an acute observation of separate realities, but it ends by suggesting a possible bridge, in the simple act of a black character taking the business card of a white man he’s just met."

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Newark, NJ
Friday, July 26, 2013

The Rutgers Center for Management Development is offering a program designed to provide financial service professionals with new tools, and a splash of enrichment especially tailored to help them perform their jobs more efficiently.

“It will make the typical person more efficient – and smarter,” said John Longo, a clinical associate professor of finance and economics at Rutgers Business School.  The program, which will be taught by Longo and other Rutgers faculty, is aptly named Turbo-Charged Financial Analyst.

Rutgers Business School and the School of Management and Labor Relations are putting renewed support behind the Center for Management Development, including helping to match the expertise of more of their faculty with programs that center administrators identify as being in demand.

“It’s important for us to offer something that’s unique,” the center’s new Executive Director William Castellano said in a recent interview. “Building our brand by partnering with our faculty and leveraging our research,” he said, “is the way to do that.”

The Turbo-charged Financial Analyst Program will be offered at Rutgers Business School’s Newark Campus over two consecutive Saturdays, Aug. 10 and Aug. 17. Both programs will run from 9 a.m. until 4 p.m.

The program is approved by the state Department of Labor for workforce training grants, so funding may be available for individuals receiving unemployment benefits.

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GreenBiz.com
Oakland, CA
Wednesday, July 24, 2013

Institutional purchasers in the U.S. wield tremendous buying power, to the tune of more than $10 trillion a year. Directing that money toward eco products and services could make major gains for the sustainability movement, but hurdle after hurdle remains in the way for many buyers.

The Sustainable Purchasing Leadership Council (SPLC), formally launched this week, aims to level the playing field by bringing together best practices, defining green products, and recognizing organizations that have taken big strides to source sustainably.

"While there has never been a more exciting time to be involved in the sustainable purchasing movement, there has never been a more challenging time," Kevin Lyons, assistant professor of supply chain management at Rutgers Business School, said during a GreenBiz webcast that announced the SPLC on Tuesday.

"The complexity of the task can be overwhelming," Lyons said, ticking off just some problems that purchasers face: determining which of the 400-plus green labels and standards are credible, creating training materials, answering surveys about products, not knowing what to measure and ultimately, doing all of that alone.

One point reiterated throughout the discussion was the comparison between the SPLC and the U.S. Green Building Council's (USGBC) LEED program. Just as the USGBC has become the go-to guide for what makes a green building green, the SPLC aims to define what makes a sustainable product sustainable.

"Most exciting, more and more organizations are recognizing that social, environmental, and financially responsible purchasing are one and the same," Lyons said.

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USA Today
New York, NY
Tuesday, July 16, 2013

Survey questions Wall Street ethics

A recent survey of 250 New York City financial professionals found more than half felt that competitors act unethically, nearly one quarter would use insider trading for a large enough gain, and nearly one third felt that they may need to be unethical to be successful.  “Wall Street has a shaky grip on its ethics . . . [d]espite the financial changes enacted after the 2008 financial crisis” writes Kevin McCoy in USA Today.

The survey results found a similar decline in ethics as the one highlighted in Wall Street Values, a recently published book by Professor Michael Santoro, Department of Management and Global Business, and Professor Ronald Strauss, Montclair State University School of Business. They conclude that “no amount of structural reform and government regulation will ensure the stability of the global financial system unless the ethical practices and values of Wall Street professionals are aligned with market efficiency and the public welfare.”

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PRWeb
Newark, NJ
Friday, July 12, 2013

Cory Booker, Glenn Shafer, Lei Lei, and others celebrated ZaGO Manufacturing’s 20 year anniversary and continuing commitment to Newark, June 25 in Bove Auditorium with speeches and presentations.  Booker summed up the feeling at the event, ZaGO’s longevity, and the benefits to Newark with: “ This is a cavalcade of wins evidenced in one extraordinary company.”

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FOX-5 KVVU-TV
Las Vegas, NV
Tuesday, July 9, 2013

Academics and administrators from more than 20 U.S. business schools will gather alongside regulators, financial institutions and community organizations at the University of Washington's Foster School of Business on July 10-12 for the inaugural National Conference on Business Development in Under-Served Communities.

"At the Rutgers Business School Center for Urban Entrepreneurship and Economic Development, we promote and foster a new generation of entrepreneurs who actively seek a socially conscious urban renaissance," said Jerome Williams, professor of management and the center's research director. "Our students clearly learn from the business challenges they address, and Newark is benefiting as well. The conference is a great opportunity to discuss curriculum design, student evaluation, and business impact with our peers."

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7KBZH.com
Bozeman, MT
Monday, July 8, 2013

Professor Paul Falkowski, first holder of the Bennett L. Smith Chair in Business and Natural Resources, and director of Rutgers Energy Institute, says the plight to replace fossil fuels is a battle of man versus nature.

"When we take petroleum out of the ground, we are buying a resource that was created millions of years ago and we don't pay for it. We're using nature's inventory of carbon," Falkowski told CBSNews.com on a tour of Rutgers University's Institute of Marine and Coastal Science.

"What I'm trying to do here is make algae make oil for us, 1 million times more efficiently -- to compete with the product that's in the ground," Falkowski said.

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Kansas City, MO
Friday, July 5, 2013

For African Americans in their early 20s, the situation is still bleak. The unemployment rate for that group went up in June to 25.5 percent and has remained stubbornly above the 20 percent mark since February 2009. For African American men ages 20 to 24, the rate spiked more than 2 percent from May, putting it over 29 percent. It jumped for African American women in that age group as well, increasing from about 20.5 percent to 22 percent.

The recession may have made things wrose, but a disparity in employment between whites and blacks is nothing new. In 50 years, the gap between unemployment rates for whites and blacks has closed only 6 percentage points, according to the National Urban League’s 2013 Equality Index.

The gap is highest in the Midwest, with unemployment rates 2.6 times as high for blacks with high school diplomas than for whites with the same education level.

After hundreds of interviews, Nancy DiTomaso, Managment and Global Business, concluded that inequality is not reproduced through discrimination — in the sense that prospective employers reject applicants explicitly because of race — but through favoritism and the pervasive power of social networking on the employment landscape.

DiTomaso found that 70 percent of the jobs her interviewees held in their lifetimes were obtained with the help of people they knew. Because our social networks are still very much segregated along racial lines, and because whites have historically enjoyed economic advantages over other groups, that puts Africans Americans and other nonwhites at a disadvantage.

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Midland, ON, Canada
Wednesday, July 3, 2013

Professor Deborah Dougherty, Management and Global Business, says it is essential for administrators to create work environments in which the staff can become energized, motivated, cooperative, and committed. She notes, however, that it is hard to commit to a place where what is required is unclear and where punishment is meted out for not completing tasks that workers never expected to do and did not know they were required to complete.

“If you want commitment, you have to foster an engaging, motivating work site,” says Dougherty. Much of the available research suggests that scientists are motivated by the pursuit of new knowledge, which they can use to figure out better, more innovative processes and improved products, she notes.

“This is what draws scientists and researchers and is an important motivator available to lab managers,” she says.

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Huffington Post
New York, NY
Wednesday, July 3, 2013

The SEC recently announced its intention to abandon the long-standing practice of settling enforcement actions that allow defendants to avoid either admitting or denying guilt. The new settlement model would require admission of guilt for those egregious cases where the misconduct caused significant harm to investors and the financial markets. We say it’s about time, and applaud this landmark policy change.

 

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