Open menu

Image of Miller Canfield Blog

Insight on the legal issues that matter most to business.

Search Blog

Get Updates By Email

RSS Subscribe to This Blogs Feed

Recent Posts

Topics

Select Topic

Archives

Select Month and Year

Contributors

Posts in White Collar Defense.
Image related to The U.S. Supreme Court Puts S.E.C. Disgorgement Actions on the Clock

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 securities laws. Most recently, the Court limited to five years the window of time in which the S.E.C. can bring a claim to “disgorge,” or take away, ill-gotten gains from a defendant’s securities fraud. These rulings may result in quicker or more aggressive enforcement actions by the S.E.C. against companies or individuals accused of securities fraud, even perhaps before investigations are complete. The holdings may also affect the willingness of corporate or individual defendants to enter into “tolling agreements” with the S.E.C. that would toll (or stop) the limitations period while the parties discuss a potential resolution or settlement.

Share: Twitter Facebook LinkedIn Email Print: Print