SEC Statute of Limitations Applies to Disgorgement

Justice Sotomayor in the Supreme Court just held that the 5-year statute of limitations for penalties under 28 USC 2462 applies to SEC disgorgement claims. This is a monumental decision for in every case the SEC claims they has disgorge you back to birth. In KOKESH v. SECURITIES AND EXCHANGE COMMISSION decided June 5th.

Because disgorgement sought by the Securities and Exchange Commission operates as a penalty under 28 U.S.C. § 2462, in that it is imposed by the courts as a consequence for violating public laws and for punitive purposes, any claim for disgorgement in an SEC enforcement action must be commenced within five years of the date the claim accrued.

This is a major decision that would prevent many of the abuses that the SEC has carried out for decades.

Latest Posts

Market Talk – March 28, 2024

ASIA:   The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 594.66 points or -1.46% to 40,168.07 Shanghai increased 17.52 points or 0.59% to 3,010.66 Hang [...]
Read more

Francis Scott Key Bridge Collapse – Black Swan Event

https://www.armstrongeconomics.com/wp-content/uploads/2024/03/FrancisKellyBridgeCollapse2024.mp4 The Francis Scott Key Bridge in Baltimore collapsed on March 26, 2024, at 01:28 EDT after being struck by a cargo ship owned by Brawner Builders Inc. The ship [...]
Read more