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SEC Brass Says Kokesh Ruling A Concern For FCPA Cases

Law360, New York (November 9, 2017, 9:20 PM EST) -- A co-chief of enforcement at the U.S. Securities and Exchange Commission said in a speech Thursday that the Supreme Court's recent ruling imposing a time limit for the agency to seek disgorgement of ill-gotten gains is likely to have an outsized impact on time-consuming Foreign Corrupt Practices Act cases.

The court found in Kokesh v. SEC that disgorgement is subject to a five-year statute of limitations, a decision seen as blunting one of the agency's key enforcement tools. Steven Peikin, the SEC's co-director of enforcement, said...
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