For SEC, making Wall Street admit guilt easier said than done

WASHINGTON: Three years ago, the new chief of the main US financial markets regulator warned Wall Street the kid gloves were coming off. Fabled former federal prosecutor Mary Jo White, who took charge of the Securities and Exchange Commission in 2013, said the worst offenders would have to confess to wrongdoing in order to reach settlements with her agency. For four decades, banks, investment funds, major corporations and financiers who cheated investors, paid bribes or destabilized markets thro