SEC Shouldn't Sweat Gabelli, FCPA Attys Say

Law360, New York (March 6, 2013, 7:37 PM EST) -- Last week's U.S. Supreme Court decision limiting the U.S. Securities and Exchange Commission's time to pursue enforcement actions would appear to curtail Foreign Corrupt Practices Act suits, which often drag on for years, but attorneys say the potential impact may not be that large.

In Gabelli v. SEC, a unanimous Supreme Court took a narrow view of the agency's five-year window for filing civil enforcement actions that seek penalties. The SEC had argued that the clock began to run when it discovered an alleged fraud, but...
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