U.S. Supreme Court,
Securities
Mar. 11, 2013
US high court decision will hasten SEC enforcement actions
On Feb. 27, the U.S. Supreme Court issued an important ruling concerning the statute of limitations for enforcement actions in which the government seeks civil penalties.
Thomas A. Zaccaro
Senior Counsel
Hueston Hennigan LLP
Phone: (213) 788-4039
Email: tzaccaro@hueston.com
Boston College Law School
Thomas is a partner in the firm's Litigation Department. He served as regional trial counsel in the SEC's Los Angeles office.
On Feb. 27, the U.S. Supreme Court issued 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 occurred rather than when it is discovered....
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