SEC chair Mary Jo White announced at the Wall Street Journal CFO Conference on June 18, 2013 that the SEC plans to begin requiring admissions of wrongdoing from defendants in settlements of certain types of enforcement cases. According to published news articles, Ms. White indicated that such admissions provide important public accountability that is worth the risk that more cases will not settle and thus require additional expenditure of SEC resources as a result of having to take such cases to trial. Ms. White said the new policy would apply to cases such as those involving egregious intentional misconduct, obstruction of an SEC investigation, or widespread harm to investors. The SEC’s plans come in response to widespread criticism, including by federal judges, of its current policy of entering settlement agreements that allow defendants to “neither admit nor deny” liability for their actions.