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Supreme Court Issues Kokesh Opinion Holding that FiveYear SOL Applies to Disgorgement Sought by the SEC

Mon 5 Jun, 2017 | Opinion by Carl Schoeppl   vCard

On June 5, 2017, the Supreme Court issued a unanimous opinion in Kokesh v. SEC,137 S.Ct. 1635 (2017), holding that the five-year statute of limitations for civil penalties applies to disgorgement sought by the SEC in its enforcement actions. In Kokesh, the Supreme Court resolved a circuit split regarding whether 28 U.S.C. § 2462, which establishes a five- year statute of limitations for an “action, suit or proceeding for the enforcement of any civil fine, …

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Supreme Court Issued An Unanimous Opinion In Gabelli, Holding That Five-year Statute Of Limitations For Civil Penalties Sought By The Sec

Wed 27 Feb, 2013 | Opinion by Carl Schoeppl   vCard

On February 27, 2013, the Supreme Court issued a unanimous opinion in Gabelli v. SEC, 568 U.S. 442 (2013), holding that the five-year statute of limitations for civil penalties sought by the SEC in its enforcement actions begins to run when the fraud occurs, not when it is discovered. In Gabelli, the Supreme Court rejected the SEC’s request to apply the discovery rule to claims for civil penalties under 28 U.S.C. § 2462, which establishes …

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