SEC Disgorgement Limits Should Apply To FERC And CFTC
By Daniel Mullen, Charles Mills and Shaun BoedickerJune 9, 2017, 4:24 PM EDT
Law360, New York (June 9, 2017, 4:24 PM EDT) -- On June 5, 2017, the U.S. Supreme Court ruled that the five-year statute of limitations in 28 U.S.C. § 2462 applies to the disgorgement remedy in U.S. Securities and Exchange Commission enforcement actions. This decision reverses the prior line of judicial precedent that held that the statute of limitations did not apply to orders requiring the disgorgement of ill-gotten gains.
The same principles limiting SEC disgorgement claims to the five-year period appear to apply with equal force to the disgorgement claims of the Federal Energy Regulatory...