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SEC RIN: 3235-AN77 Publication ID: 2026 
Title: ●Rescission of Policy Regarding Denials in Settlements of Enforcement Actions 
Abstract:

The Division is considering recommending that the Commission rescind section 202.5(e) of its Informal and Other Procedures regarding consent decrees in judicial or administrative proceedings. Paragraph (e) describes a Commission policy to avoid creating, or permitting to be created, an impression that a decree is being entered or a sanction imposed, when the conduct alleged did not, in fact, occur and to not permit a defendant or respondent to consent to a such a judgment or order while denying the allegations in the complaint or order for proceedings.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Deregulatory 
CFR Citation: 17 CFR 202.5(e)   
Legal Authority: 15 USC 78w(a)    15 USC 77s    15 USC 80a-37    15 USC 80b-11   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Rule Effective  05/21/2026 
Final Action  05/21/2026  91 FR 29892   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Federal 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
D. Mark Cave
Division of Enforcement
Securities and Exchange Commission
100 F Street, NE,
Washington, DC 20549
Phone:202 551-4500
Email: caved@sec.gov