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US High Court Decision Will Hasten SEC Enforcement Actions

On Feb. 27, the U.S. Supreme Court isses an important ruling concerning the statute of limitations for enforcement actions in which the government seeks civil penalties. In Gabelli v. Securities and Exchange Commission, 2013 DJDAR 2538, the court unanimously ruled that the Securities and Exchange Commission must file enforcement actions seeking civil money penalties within five years after the underlying fraudulent conduct occured rather than when it is discovered.

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