News & Analysis as of

Discovery Rule Enforcement Actions Securities and Exchange Commission (SEC)

Miller Canfield

The U.S. Supreme Court Puts S.E.C. Disgorgement Actions on the Clock

Miller Canfield on

The U.S. Supreme Court continues to limit the timeframe in which the U.S. Securities and Exchange Commission (“S.E.C.”) can seek to levy monetary penalties in enforcement actions it brings against violators of the federal...more

Burr & Forman

Supreme Court to Review SEC Enforcement Limitations

Burr & Forman on

On Friday, January 13, the Supreme Court granted certiorari to resolve a Circuit split on the extent to which SEC enforcement actions are restricted by the five-year statute of limitations in 28 U.S.C. § 2462. Section...more

Dechert LLP

U.S. Supreme Court Rules That the Government Does Not Have an Unlimited Amount of Time in Which to Bring Civil Penalty Actions

Dechert LLP on

In a unanimous decision written by Chief Justice John G. Roberts, Jr., the United States Supreme Court has ruled that the Government does not have an unlimited amount of time to bring civil penalty actions based on fraud. In...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Supreme Court Rejects Discovery Rule on Statute of Limitations for SEC Civil Penalty Enforcement Actions"

Gabelli v. Sec. & Exch. Comm'n, No. 11-1274 (U.S. Feb. 27, 2013) - In a unanimous opinion authored by Chief Justice Roberts, the U.S. Supreme Court today held that the five-year limitations period that governs SEC...more

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