Sec Proffer Agreement

A sec proffer agreement is a legal document that can be used in the context of a criminal investigation to protect an individual`s rights. Proffer agreements, also known as «Queen for a Day» agreements, allow individuals to provide information to law enforcement agencies while shielding themselves from prosecution.

In a sec proffer agreement, individuals under investigation may agree to provide information to the Securities and Exchange Commission (SEC) regarding a securities law violation. Typically, this occurs in exchange for a promise from the SEC that it will not use that individual`s statements against them in any criminal proceedings that may arise from the information provided.

The SEC may use information obtained through a proffer agreement to pursue investigations and to help build a case against other individuals involved in the securities law violation. However, the information provided by the individual who has entered into a proffer agreement cannot be used against them in court.

Sec proffer agreements are used in many high-profile cases involving securities law violations, such as insider trading and fraudulent accounting practices. They have become an important tool for law enforcement agencies seeking to gather information from individuals who may be reluctant to cooperate for fear of incriminating themselves.

It`s important to note that entering into a sec proffer agreement is not a decision to be taken lightly. Individuals considering entering into a proffer agreement should seek the advice of an experienced securities law attorney to fully understand the implications of their decision.

In addition, individuals who enter into a proffer agreement must be truthful and provide complete information to the SEC. Failure to do so could result in the proffer agreement being invalidated, and the statements made by the individual being used against them in court.

In summary, a sec proffer agreement can be a valuable tool for individuals who wish to cooperate with the SEC in a criminal investigation while protecting themselves from prosecution. However, it`s important to fully understand the implications of entering into such an agreement and to seek the advice of an experienced securities law attorney before doing so.