On February 27, 2013, the Supreme Court issued its much-anticipated decision in Gabelli v. SEC, unanimously rejecting the SEC’s view that government agencies can bring enforcement actions seeking civil penalties for fraudulent conduct outside the applicable statute of limitations period. The unanimous decision in Gabelli is a significant public defeat for the SEC, and while the opinion’s immediate impact should be relatively modest, over the longer term, the opinion may have a significant practical effect.View full memo, "Supreme Court rejects SEC’s request for exception to statute of limitations in Gabelli"
