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The Problem With SEC Obey-the-Law Injunctions and Their Chances of Survival  


Author:  Ernest Edward  Badway.; Daniel  Schnapp.


Source: Volume 25, Number 05, May/June 2012 , pp.45-54(10)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

In the wake of our most recent recession, we have seen both the exposure of numerous securities frauds and the imposition of injunctions to prevent future fraud by malefactors. However, the SEC obey-the-law injunction has been coming under increasing scrutiny. The authors address various flaws with this type of injunction, and suggest a better approach.

Keywords: SEC powers; Securities Exchange Act of 1934; Fed. Rul. Civ. Proc. 65(d); separation of powers issues; enforceability

Affiliations:  1: Fox Rothschild LLP; 2: Fox Rothschild LLP.

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