Jerome Tomas, Marc Litt, Richard Kirby, Author at Global Compliance News

Richard Kirby

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Richard A. Kirby is a partner in the Litigation Practice Group at Baker McKenzie, Washington, DC. Mr. Kirby litigates complex corporate, securities, bankruptcy and administrative law issues. Mr. Kirby also represents clients in SEC, Justice Department, state and self-regulatory organization law enforcement investigations and in parallel private securities fraud and derivative actions. He has participated on behalf of clients in most of the major recent broker-dealer liquidations under the Securities Investor Protection Act, including Lehman Bros., and Bernard L. Madoff Investments Securities, LLC. He specializes in representing victims of Ponzi schemes.

In Anti-Corruption

US Supreme Court Limits SEC’s Ability to Obtain Disgorgement

June 8, 2017 by Jerome Tomas, Marc Litt and Richard Kirby 7 Mins Read

On June 5, 2017, the United States Supreme Court held that the power of the SEC to take the profit out of violations of the securities laws through the remedy of disgorgement as practiced by the SEC is limited to the five-year period immediately preceding the filing of an enforcement action by the SEC because it operates as a penalty.

In North America

US Supreme Court to Review SEC’s Ability to Obtain Disgorgement for Conduct Beyond Five Years

January 30, 2017 by Graham Cronogue, Jerome Tomas, Laura Clinton, Laura O’Rourke, Richard Kirby and William Devaney 5 Mins Read

When the SEC seeks disgorgement, is it asking for a fine, a forfeiture, or an equitable remedy outside the reach of the current statute of limitations? On Friday, 13 January 2017, the Supreme Court in Kokesh v. SEC, No. 16-529, granted review of the Tenth Circuit’s ruling in that an…

In Anti-Corruption

SEC Files Lawsuit Against American Multinational Corporation and its General Counsel for Failure to Disclose Loss Contingency Related to Pending DOJ Investigation

October 11, 2016 by Daniel Goelzer, Maurice Bellan, Laura Clinton and Richard Kirby 5 Mins Read

The U.S. Securities and Exchange Commission recently filed a law enforcement action for failure to disclose loss contingencies arising out of a pending U.S. Department of Justice investigation.