On November 28, 2011 Judge Rakoff issued an opinion regarding the reasons for rejecting the proposed SEC and Citigroup Settlement. Judge Rakoff wrote in his decision that the SEC’s “long-standing policy, hallowed by history but not by reason,” of allowing financial institutions to avoid admitting guilt betrays the public interest — leaving the public in the dark as to what really happened.
About Michael Brozzetti
DISCLOSURE: Michael Brozzetti represents his personal commitment to protect and guard the Internal Auditing profession's principles for integrity, competency, confidentiality, and objectivity as provided for within the Institute of Internal Auditors Code of Ethics. Michael Brozzetti is President of Boundless LLC, an expert internal auditing and governance firm and is Chairman of the Business Integrity Alliance™ which is a joint venture between zEthics, Inc. and Boundless LLC missioned to advocate and advance the practices supporting the principles of integrity, transparency, accountability, and risk oversight. Michael Brozzetti is a Certified Internal Auditor® Learning System training partner with the Institute of Internal Auditors, Villanova University, and the Holmes Corporation. Michael Brozzetti is currently under consideration for the zEthics, Inc. Board of Directors and Chief Learning Officer for Global Governance Grid IT. Michael has no material holdings in the Capital Markets.
Business Integrity Alliance 