Prof. Rosenfeld’s Work Cited in Wall Street Journal Article on SEC Admissions Policy

Professor David RosenfeldProfessor David Rosenfeld’s article “Admissions in SEC Enforcement Cases: The Revolution that Wasn’t,” published in the Iowa Law Review, was cited in the Wall Street Journal article “Wall Street, Companies May Have to Give up More to Settle with the SEC.”  The WSJ article reported on a recent announcement that the Securities and Exchange Commission would revive a policy of sometimes requiring admissions of wrongdoing when settling certain types of enforcement actions.  The article cited Prof. Rosenfeld’s study which showed that when the policy of requiring admissions was previously in effect, it was very seldom used and even more rarely in cases involving the most egregious forms of misconduct.

Professor Rosenfeld joined the NIU Law faculty in 2015. He teaches courses in securities regulation, business law and contracts. Before joining the NIU Law faculty, Professor Rosenfeld worked for many years at the U.S. Securities and Exchange Commission. As co-head of Enforcement for the SEC’s New York office, Professor Rosenfeld supervised teams of attorneys in investigating and prosecuting violations of the federal securities laws, including cases of insider trading and accounting fraud. Prior to working at the SEC, Professor Rosenfeld was in private practice at Davis Polk & Wardwell in New York. Professor Rosenfeld also taught at the University of Virginia, and served as a law clerk to the Honorable A. Raymond Randolph of the United States Court of Appeals for the District of Columbia Circuit. At the SEC, Professor Rosenfeld led numerous prominent investigations, including the Galleon insider trading cases and the New York Stock Exchange Specialist cases.

Professor Rosenfeld graduated from Harvard Law School, where he was an editor of the Harvard Law Review, and received a Ph.D. in Political Theory from Columbia University.

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