Ex-Xerox CFO Wants SCOTUS Look at SEC ‘No-Deny’ Fraud Settlement

The former chief financial officer of Xerox Corp. asked the U.S. Supreme Court to weigh in on the constitutionality of an SEC settlement that permanently prevents him from denying the agency’s fraud allegations.

Barry D. Romeril urged the high court to take a look at whether his deal with the Securities and Exchange Commission—including the “no-deny” provision, which he referred to as a “gag order"—ran afoul of First Amendment free speech protections or constitutional guarantees of due process.

Romeril agreed to the settlement, which included more than $5.2 million in disgorgement, interest, and a civil fine, following a 2003 ...