SEC Fraud Actions Lag, Currency Swaps, EU Cartels: Compliance

The Securities and Exchange Commission must move more quickly in pressing some fraud lawsuits, the U.S. Supreme Court ruled in a decision that may affect agencies across the government.

The justices unanimously ruled in favor of two Gabelli Funds LLC officials seeking to block SEC claims that they improperly let a client engage in market timing, a practice of making frequent, short-term trades at the expense of other investors. Chief Justice John Roberts wrote the court’s opinion.