NEW YORK - Dismissal of a Securities and Exchange Commission enforcement action is not proper on the basis that the SEC failed to comply with a Dodd-Frank Wall Street Reform and Consumer Protection Act rule that it seek commission approval of extensions because the rule does not provide for a defendant to be free of litigation for not complying, a federal judge in New York ruled March 24 (Securities and Exchange Commission v. The NIR Group LLC, et al., No. 11-4723, E.D. N.Y.)....(read more)![]()
↧