High Court Ruling Puts SEC Actions On Strict Timetable

Law360, New York (February 27, 2013, 8:04 PM EST) -- A Wednesday U.S. Supreme Court ruling limiting the U.S. Securities and Exchange Commission's power to recover civil penalties to a period of five years after the discovery of an alleged fraud may also curb the agency’s authority to use a broad range of other weapons in its enforcement arsenal beyond that five-year window, experts say.

The high court's unanimous decision in Gabelli v. SEC applies only to civil monetary penalties, but it could make things more difficult for the agency when it seeks director and officer...
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