SEC Rejects Attempt to Extend Kokesh to Industry Bars

August 29, 2019

Kyle DeYoung comments on the Securities and Exchange Commission determination that the Supreme Court’s recent opinion in Kokesh v. SEC doesn’t preclude industry bans, as the regulator strives to preserve its enforcement authority in the wake of the ruling.

An excerpt from “SEC Rejects Attempt to Extend Kokesh to Industry Bars,” Fund Intelligence, August 29, 2019:

“Clearly what’s on the SEC’s mind when it evaluates this argument is how far Kokesh goes if you apply the Kokesh analysis to other remedies the SEC may get from defendants in their cases beyond disgorgements,” said Cadwalader Wickersham & Taft Partner Kyle DeYoung, noting the commission had an interest in trying to ensure the decision wasn’t extended beyond penalties and disgorgement to other types of nonpecuniary penalties imposed by the agency.

To read the Fund Intelligence article (membership required), click here.

COVID-19 Resource Center

  • Access our insights on the impact of COVID-19 to help you navigate this unprecedented environment.

CadwaladerSpotlight

Making a Mark on Our Communities:

Pro Bono Report 2019

To assist individuals in working from home during the coronavirus social-distancing period, Cadwalader is providing clients and friends free access to our legal research platform, the Cadwalader Cabinet.