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Can The 'Remedial' Bar Survive Kokesh?

Law360, New York (November 7, 2017, 11:38 AM EST) -- The U.S. Securities and Exchange Commission’s ability to bar or suspend an individual from the securities industry is arguably its most powerful enforcement tool. For a securities professional, it is difficult to imagine anything more punitive than losing the ability to earn a living in his or her chosen profession. But only if a court determines that an industry bar or suspension is a “penalty” will the five-year statute of limitations in 28 U.S.C. § 2462 apply.[1] If this extraordinary relief is instead considered “equitable” or...
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