The Securities and Exchange Commission could use its investigation of JPMorgan Chase's derivatives losses as a template for a different approach to settlements, writes Peter Henning of Wayne State University's law school. The move would be a departure from a traditional settlement, which allows the entity it is settling with to neither admit nor deny guilt. A decision by the SEC to seek an admission of guilt, rather than allowing JPMorgan to neither admit or deny guilt, would send a message to Wall Street, Henning writes.

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