Allen Stanford Investor Suit Should Be Dismissed, SEC Says

Lock
This article is for subscribers only.

The U.S. asked a federal judge to throw out claims that the Securities and Exchange Commission should be held accountable for failing to stop an alleged Ponzi scheme by R. Allen Stanford earlier than it did.

SEC officials have legal protection for policy decisions, such as whether to take enforcement action when they suspect wrongdoing, the government said in papers filed yesterday in federal court in Dallas.