It won’t be fun for Citigroup Inc. and the Securities and Exchange Commission to defend their proposed $285 million settlement at a Wednesday court hearing ordered by a very skeptical federal judge.
WSJ-
U.S. District Judge Jed S. Rakoff could kill the deal if he doesn’t like what he hears.
But coming up with the proper penalties to end civil enforcement cases by the SEC is complicated.
SEC officials consider nine factors, including losses suffered by investors as a result of the alleged wrongdoing. The agency also weighs how much the company benefited from the behavior and whether investors will be …