On February 27, the U.S. Supreme Court made the right call by rejecting the SEC’s attempt to expand the government’s ability to bring civil penalty actions against financial institutions, businesses and individuals. In Gabelli, et. al. v. SEC, the government had taken the unprecedented position that the “discovery rule” applied to statutory enforcement actions covered under 28 U.S.C. section 2462, the five year statute of limitations provision. An SEC ruling would have allowed the government to bring new claims against companies and individuals based upon old activities if the government took the position that it had no knowledge of the conduct.
Enter your email address/USER ID and password in the fields above to gain access to the subscriber content on this site.
Your subscription includes one set of login credentials for your exclusive use. Security features have been integrated on this site: If someone signs in with your credentials while you are logged in, the site will automatically close your ongoing login and you will lose access at that time. To inquire about group subscriptions for your organization, contact Joann Griffin.
Already a paid subscriber but not registered for online access yet? Click Here to register.
Forgot password or User ID?