Dodd-Frank Rule Doesn't Bar Delayed SEC Suits, Judge Says

Law360, New York (March 25, 2013, 3:18 PM EDT) -- A U.S. Securities and Exchange Commission suit cannot be dismissed on grounds that the agency failed to comply with a Dodd-Frank Act rule requiring it to seek approval for delays in filing complex cases, a New York federal judge ruled Sunday.

After it notifies the target of an investigation about a matter, the SEC’s enforcement division has 180 days to file a formal suit. A provision of Dodd-Frank allows the enforcement division to obtain up to an additional 180 days as long as it notifies the...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. The NIR Group, LLC et al

Case Number



New York Eastern

Nature of Suit



Joseph F. Bianco

Date Filed

September 28, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.