Prof. Gershman comments on change in “regulatory regime”
Professor Bennett Gershman was quoted in an article on Law360 that addressed comments made by New York financial regulator Ben Lawsky saying he intends to punish both businesses and individuals involved in mortgage and banking cases. The piece calls Lawsky’s comment an indication that “the end of stand-alone corporate settlements is ending.”
Professor Gershman, a former New York City prosecutor, has spoken out repeatedly about the lack of recent cases brought against individuals.
“I have consistently wondered at the inaction by prosecutors and other government regulators in failing to prosecute lawless corporate executives,” Gershman is quoted as saying. He added, “A new regulatory regime appears to be starting.”
The full article, which also includes quotes from Professor John Alan James from Pace University, can be read here.