British Columbia Enforces SEC Disgorgement Order (VIIA)

On March 29, 2000, the Supreme Court of British Columbia ruled that Canada would enforce a disgorgement order issued by the U.S. District Court for the Southern District of New York in a Securities and Exchange Commission (SEC) enforcement action. The British Columbian court ruled in favor of the SEC’s efforts to freeze and disgorge the gains the defendants were ordered to disgorge in a securities fraud case. The B.C. court rejected defendant Robert H. Cosby’s arguments that the SEC judgment was not enforceable in British Columbia…[more]