The SEC is handing out bigger and bigger fines for misdeeds. But is this the right approach?
By SEC standards, it was an odd sort of press release.
On January 4, the Securities and Exchange Commission issued a statement regarding actions against McAfee Inc. and Applix Inc. The commission reported that the suits had been settled, and that in McAfee's case, the company would pay a civil fine of $50 million, while Applix would pay nothing.
The discussion of the settling of the two actions took exactly two sentences. The SEC devoted another 2,000 words to describing how it determined the civil fines in the two cases. "We are issuing this statement describing with particularity the framework for our penalty determinations in these two cases," the commission noted.
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