id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-2963	Barnard, Jayne W.	Corporate Therapeutics at the Securities and Exchange Commission	2008	48	.pdf	application/pdf	16241	801	54	Defendant Defendant Defendant must engage a Appointment desist order must under- must hire new consultant approved by the of a Monitor take remedial executives and SEC staff; the consultant will with broad efforts, then staff and make findings and recom- oversight report on the initiate new mendations for future pro- authority results to the programs and grams and practices; defendant SEC practices must adopt and implement the consultant's recommendations Working from the least intrusive to the most intrusive provisions, we begin with settlements like that involving Cummins, Inc.25 In that case, the SEC alleged that Cummins had failed in some details of its accounting practices, resulting in a restatement of its financials for the preceding three years. Sometimes, the terms of SEC settlements require boards of directors to replace senior-level managers, engage and empower outside consultants, and overhaul a variety of financial and business practices.1 2 One might ask whether the SEC has the expertise to design desirable corporate governance changes or whether the therapeutic provisions the Commission has demanded are the right ones or the best ones for the corporate defendants in question.	cache/cblr-2963.pdf	txt/cblr-2963.txt