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Supreme Court of the United States › Misappropriation › Financial Services Industry

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Carlton Fields

U.S. Supreme Court Denies Alpine’s Petition Challenging Constitutionality of FINRA Enforcement Proceedings

Carlton Fields on

On June 2, 2025, the U.S. Supreme Court denied a petition for writ of certiorari filed by Alpine Securities Corp. in Alpine Securities Corp. v. Financial Industry Regulatory Authority. In doing so, the Supreme Court declined...more

Sheppard Mullin Richter & Hampton LLP

Supreme Court Deals Blow to SEC By Applying Five-Year Statute of Limitations to Disgorgement Remedies in SEC Enforcement Actions

Sheppard Mullin Richter & Hampton LLP on

On June 5, 2017 the Supreme Court dealt a significant setback to the Securities and Exchange Commission (“SEC”) by limiting its power to extract ill-gotten profits from securities laws violators....more

King & Spalding

Reflections on Kokesh v. SEC: Potential Ramifications of SEC Disgorgement Being a Penalty

King & Spalding on

In the week since the Supreme Court’s unanimous decision in Kokesh v. SEC, which rejected the Securities and Exchange Commission’s longstanding position that disgorgement was an equitable remedy not subject to the five-year...more

Pillsbury Winthrop Shaw Pittman LLP

SEC’s Negotiating Power Curbed - U.S. Supreme Court holds disgorgement subject to a five-year statute of limitations

Pillsbury Winthrop Shaw Pittman LLP on

Earlier this week, the U.S. Supreme Court resolved a circuit split among the Tenth and Eleventh Circuit Courts of Appeals by holding that because disgorgement in a Securities and Exchange Commission (SEC) enforcement action...more

Herbert Smith Freehills Kramer

In Two Unanimous Rulings, U.S. Supreme Court Limits Penalties in SEC Enforcement and Criminal Actions

Herbert Smith Freehills Kramer on

In a pair of decisions issued on June 5, the Supreme Court sharply curtailed the scope of financial sanctions available in civil securities enforcement and criminal drug trafficking cases. In addition to the results, which...more

Troutman Pepper Locke

Supreme Court Provides New Leverage for Defendants in SEC Enforcement Actions

Troutman Pepper Locke on

For many years, the U.S. Securities and Exchange Commission (SEC) has sought both civil monetary penalties and disgorgement of unlawful gains from those alleged to have violated federal securities laws. While civil monetary...more

Seyfarth Shaw LLP

Supreme Court Limits SEC Disgorgement Orders With Five-Year Statute of Limitations

Seyfarth Shaw LLP on

Seyfarth Synopsis: On June 5, 2017, the United States Supreme Court resolved a split among the federal circuit courts by unanimously holding that disgorgement collected by the Securities and Exchange Commission is subject to...more

Hogan Lovells

Supreme Court Limits SEC Disgorgement Orders to a Five-Year Statute of Limitations

Hogan Lovells on

Recently, the Supreme Court unanimously held in Kokesh v. SEC that disgorgement orders in enforcement actions by the Securities and Exchange Commission are subject to the same five-year statute of limitations as monetary...more

Ballard Spahr LLP

Supreme Court’s Kokesh v. SEC ruling limits CFPB disgorgement

Ballard Spahr LLP on

On June 5, 2017, the U.S. Supreme Court handed down a unanimous decision in Kokesh v. SEC. In Kokesh, the SEC took the position that disgorgement was not a penalty and therefore not subject to the statute of limitations in 28...more

Bradley Arant Boult Cummings LLP

Supreme Court Decision Provides Significant Protection to Securities Industry, Limits SEC Enforcement

Bradley Arant Boult Cummings LLP on

In a decision previewed in an earlier post, the United States Supreme Court ruled unanimously in Kokesh v. Securities and Exchange Commission that the five-year statute of limitations in 28 U.S.C. section 2462 applies to SEC...more

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