Insights
Client Alert
Second Circuit Defers to SEC in Determining How to Distribute Funds Under Sarbanes-Oxley
October 16, 2006
Keith W. Miller and Chris Cobb
On October 2, 2006, the Second Circuit Court of Appeals issued a far-reaching decision that clears the way for the Securities
and Exchange Commission to exercise broad discretion in developing plans for the distribution of civil penalties in addition to disgorgement funds among investors injured by securities violations.