Category Archives: Broker-Dealer

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

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 enforcement actions seeking the remedy of disgorgement. Resolving a Circuit split, the Supreme Court ruled that disgorgement is a “penalty” … Continue Reading

Is There a Statute of Limitations on Disgorgement?

How long does the Securities and Exchange Commission (SEC) have to bring a lawsuit asking for disgorgement of unlawful gains? The United States Supreme Court will decide that issue this term in Kokesh v. Securities and Exchange Commission. Under federal law, no “action, suit or proceeding for the enforcement of any civil fine, penalty, or … Continue Reading

Bradley Launches New Broker-Dealer and Investment Advisor Blog Series

Bradley’s Banking & Financial Services Team is pleased to announce a new blog series led by its Broker-Dealer and Investment Advisor Team. The series will focus on issues critical to assisting financial institutions and service providers in maintaining compliance, protecting their operations and developing their businesses while minimizing risk. Bradley’s Broker-Dealer & Investment Advisor Team … Continue Reading

SEC Examination Priorities for 2017 – What do Robots, Senior Investors, and Payment for Order Flow Have in Common?

This week, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released its Examination Priorities for 2017  that reflects certain practices, products, and services that OCIE perceives to present potentially heightened risk to investors and/or the integrity of the U.S. capital markets. The Examination Priorities for 2017 are organized into the following general categories: Protecting … Continue Reading
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