Speech by SEC Commissioner Kathleen L. Casey

Speech by SEC Commissioner Kathleen L. Casey

February 4, 2011

In a recent speech, SEC Commissioner Kathleen Casey discussed (i) the need to keep costs and benefits in mind during the SEC's rulemaking under Dodd-Frank; and (ii) retroactively-applying provisions in Dodd-Frank. With respect to retroactivity, Commissioner Casey highlighted case law on the topic, and considered how courts might address some of the many provisions in Dodd-Frank that could be interpreted to apply retroactively. In particular, Commissioner Casey questioned the Enforcement Division's recent use of new authority to impose collateral bars in a case that dealt with a fraud perpetrated prior to the enactment of Dodd-Frank.

Cross References

Broker Accused of Defrauding Elderly Nuns Settles Case with SEC (SEC Press Release 2011-2, Jan. 6, 2011)