Kokesh v. Sec
U.S. Supreme Court · decided June 5, 2017 · Supreme Court Database (Spaeth)
- Decided
- June 5, 2017
- Term
- October Term 2016
- Vote
- 9–0
- Majority author
- Justice Sotomayor
- Issue area
- Economic Activity
- Disposition
- Reversed
- Outcome
- Petitioning party won
- Ideological direction
- Conservative
Opinion excerpt
(Slip Opinion) OCTOBER TERM, 2016 1 Syllabus NOTE: Where it is feasible, a syllabus (headnote) will be released, as is being done in connection with this case, at the time the opinion is issued. The syllabus constitutes no part of the opinion of the Court but has been prepared by the Reporter of Decisions for the convenience of the reader. See United States v. Detroit Timber & Lumber Co., 200 U. S. 321 , 337. SUPREME COURT OF THE UNITED STATES Syllabus KOKESH v. SECURITIES AND EXCHANGE COMMISSION CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE TENTH CIRCUIT No. 16–529. Argued April 18, 2017—Decided June 5, 2017 The Securities and Exchange Commission (SEC or Commission) pos- sesses authority to investigate violations of federal securities laws and to commence enforcement actions in federal district court if its investigations uncover evidence of wrongdoing. Initially, the Com- mission’s statutory authority in enforcement actions was limited to seeking an injunction barring future violations. Beginning in the 1970’s, federal district courts, at the request of the Commission, be- gan ordering disgorgement in SEC enforcement proceedings. Alt- hough Congress has since authorized the Commission to seek mone- tary civil penalties, the Commission has continued to seek disgorgement. This Court has held that 28 U. S. C. §2462 , which es- tablishes a 5-year limitations period…
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