In an important decision, the Supreme Court held that the SEC has five years from when a fraud occurred to file an action to seek civil penalties.
http://www.jdsupra.com/legalnews/supreme-court-rules-sec-has-five-years-t-42444/
http://www.jdsupra.com/legalnews/supreme-court-rules-sec-has-five-years-t-42444/
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