After the rejection of the proposed $33 million settlement between Bank of America and the Securities and Exchange Commission by a federal judge, the SEC has no clear road to victory in the case that is to go to trial on Feb. 1, according to this article. Apart from taking the case to court, where it could lose, the SEC could also ask the 2nd U.S. Circuit Court of Appeals to review the District Court's rejection, or it could try to make a new settlement deal with BofA.

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