“There was that awful phrase again, in JPMorgan Chase & Co.’s settlement with U.S. energy regulators: The company ‘neither admits nor denies the violations.’ The $410 million pact between JPMorgan and the Federal Energy Regulatory Commission doesn’t do much good for the rest of us. For years the Securities and Exchange Commission has been the agency that gets the most criticism for these sorts of ‘no-admit’ settlements. The SEC has long defended their use by pointing, in part, to the many federal agencies that routinely do the same thing. The energy regulators just gave the SEC a new high-profile example.”

http://www.bloomberg.com/news/2013-07-30/jpmorgan-s-latest-guilt-free-payoff.html

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