News & Analysis as of September 21, 2024

Civil Monetary Penalty

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The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term. The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -

Supreme Court to Review SEC Enforcement Limitations

Burr & Forman on 1/16/2017

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

Supreme Court Update: Two Securities Law Decisions This Week, and Another to Come

Akerman LLP on 3/1/2013

The United States Supreme Court has taken a keen interest in the securities arena this current term, agreeing to hear at least three cases (of only approximately 70 in total). This week, the Supreme Court announced decisions...more

Supreme Court Knocks Out Last Prop of OSHA Rule on Statute of Limitations

McDermott Will & Emery on 3/1/2013

On February 27, 2013, the Supreme Court of the United States in Gabelli v. SEC unanimously disapproved of the so-called discovery rule for postponing the running of a statute of limitations when a federal government agency...more

Supreme Court Rules SEC Has Five Years to Seek Penalties

McDermott Will & Emery on 3/1/2013

In an important decision, the Supreme Court held that the SEC has five years from when a fraud occurred to file an action to seek civil penalties. Although the ruling was limited to civil penalties, the decision might prompt...more

Death and Taxes? Recent Supreme Court Arguments in Gabelli v. SEC Concerning a General Statute of Limitations for Civil Fines May...

Saul Ewing LLP on 1/25/2013

On January 8, the Supreme Court of the United States heard oral arguments in Gabelli v. S.E.C., 133 S. Ct. 97 (2012) on the question: By when must the government initiate an action to enforce a civil fine, penalty, or...more

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