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The weekly news source for investment management legal and compliance professionals

News June 12, 2017 Issue

Supreme Court: SEC Cannot Impose Disgorgement After Five Years

You could almost hear the champagne bottles uncorking at the law offices of securities defense attorneys from coast to coast. At the same time, one can imagine a mood akin to a funereal grim at the SEC Division of Enforcement. The reason for both was the same: The U.S. Supreme Court on June 5 ruled that the Commission cannot require disgorgement for violations that occurred outside a five-year statute of limitations.

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