2nd Circ. Says SEC Moved Fast Enough In Suing NY Broker

Law360 (July 22, 2021, 5:04 PM EDT) -- The timer for bringing actions to enforce civil fines, penalties or forfeiture can be paused, the Second Circuit ruled in a precedential opinion Thursday as it upheld a $2 million judgment against a former Long Island broker who tried to get his U.S. Securities and Exchange Commission violations reversed on a timing technicality.

Donald J. Fowler had argued that the SEC waited too long to bring an enforcement action against him alleging that he ripped off investors with excessive trading fees and reckless bets. In particular, he claimed that a decades-old change to federal law meant the five-year statute of limitations for...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!