The SEC lost its recent Supreme Court battle over when the clock begins to tick on its five-year statute of limitations to bring fraud cases. It may still win the war on this issue, however, if legislation being developed by U.S. Senator Jack Reed of Rhode Island becomes law. Reuters reports that Sen. Reed is working with the SEC on legislation that would increase the SEC’s current five-year statute of limitations to 10 years.
via Sen. Reed Working With SEC to Craft Legislation Doubling Statute of Limitations – Compliance Week