Federal judge's ruling could change prosecution of Wall Street
Legal experts see potential effects of Rakoff's SEC-Citi ruling for major banks' settlements
Judge Jed Rakoff's rejection of Citi's settlement with the US Securities and Exchange Commission (SEC) could provoke a change in the way such cases are handled, experts say.
Rakoff refused to approve a $285 million settlement between Citi and the SEC on November 28 concerning Citi's alleged mishandling of a $1 billion collateralised debt obligation (CDO), dismissing it as being "neither fair, nor
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