Americans for Forfeiture Reform is proud to announce that we have filed an amicus brief in Kokesh v. Securities and Exchange Commission, no. 16-529. The U.S. Supreme Court granted review on whether 28 U.S.C. § 2462's five-year statute of limitations applies to claims for “disgorgement.” Section 2462 applies to the enforcement of any "civil fine, penalty, or forfeiture, pecuniary or otherwise." AFR addresses an antecedent question, whether the district court enjoyed the power to enter the disgorgement order in the first place. We say no such authority exists under 15 U.S.C. § 78u(d)(5), the U.S. Code subsection cited below.
As always, we thank Mahesha P. Subbaraman of Subbaraman PLLC, author of the brief and extraordinary lawyer.