• A Year Post 'Janus'
  • February 19, 2013
  • Law Firm: Brune Richard LLP - New York Office
  • In Janus Capital Group v. First Derivative Traders, 131 S. Ct. 2296 (2011), the Supreme Court sharply limited the scope of primary liability for false and misleading statements under §10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. That decision has had significant effects on SEC enforcement actions and charging decisions, particularly in financial crisis cases. In this article, I discuss the issues confronting the SEC in pursuing charges against individuals in light of Janus and the enforcement role of the SEC in those actions.