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...
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Case Information

Case Title

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


Case Number

2:11-cv-04723

Court

New York Eastern

Nature of Suit

Securities/Commodities

Judge

Joseph F. Bianco

Date Filed

September 28, 2011

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