NEW YORK — As it investigates a suspected kickback scheme in New York’s pension system, the Securities and Exchange Commission has been pushing to bar Steven Rattner, a prominent financier and former Obama administration “car czar,” from working in the securities industry for up to three years, according to three people told of the discussions.
But Rattner has resisted the proposed penalty, according to these people, who spoke on the condition of anonymity because the negotiations are confidential.
It would be the most severe penalty for any of the Wall Street executives ensnared in the wide-ranging pension investigation.
Under the proposed SEC settlement, Rattner, 57, would most likely be barred from acting as an adviser to Mayor Michael Bloomberg, people briefed on the matter said. The New York Times
