U.S. Code
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Title 15
» Chapter CHAPTER 2A— SECURITIES AND TRUST INDENTURES › Subchapter SUBCHAPTER I— DOMESTIC SECURITIES
15 U.S.C. § 77i
Court review of orders
(a) Any person aggrieved by an order of the Commission may obtain a review of such order in the court of appeals of the United States, within any circuit wherein such person resides or has his principal place of business, or in the United States Court of Appeals for the District of Columbia, by filing in such Court, within sixty days after the entry of such order, a written petition praying that the order of the Commission be modified or be set aside in whole or in part. A copy of such petition shall be forthwith transmitted by the clerk of the court to the Commission, and thereupon the Commission shall file in the court the record upon which the order complained of was entered, as provided in section 2112 of title 28. No objection to the order of the Commission shall be considered by the court unless such objection shall have been urged before the Commission. The finding of the Commission as to the facts, if supported by evidence, shall be conclusive. If either party shall apply to the court for leave to adduce additional evidence, and shall show to the satisfaction of the court that such additional evidence is material and that there were reasonable grounds for failure to adduce such evidence in the hearing before the Commission, the court may order such additional evidence to be taken before the Commission and to be adduced upon the hearing in such manner and upon such terms and conditions as to the court may seem proper. The Commission may modify its findings as to the facts, by reason of the additional evidence so taken, and it shall file such modified or new findings, which, if supported by evidence, shall be conclusive, and its recommendation, if any, for the modification or setting aside of the original order. The jurisdiction of the court shall be exclusive and its judgment and decree, affirming, modifying, or setting aside, in whole or in part, any order of the Commission, shall be final, subject to review by the Supreme Court of the United States upon certiorari or certification as provided in section 1254 of title 28.(b) The commencement of proceedings under subsection (a) shall not, unless specifically ordered by the court, operate as a stay of the Commission’s order.(May 27, 1933, ch. 38, title I, § 9, 48 Stat. 80; Pub. L. 85–791, § 9, Aug. 28, 1958, 72 Stat. 945; Pub. L. 100–181, title II, § 206, Dec. 4, 1987, 101 Stat. 1252.)Editorial NotesAmendments1987—Subsec. (a). Pub. L. 100–181 substituted “court of appeals” for “Circuit Court of Appeals”, “United States Court of Appeals for the District of Columbia, by filing in such Court” for “Court of Appeals of the District of Columbia, by filing in such court”, and “section 1254 of title 28” for “sections 239 and 240 of the Judicial Code, as amended (U.S.C., title 28, secs. 346 and 347)”.
1958—Subsec. (a). Pub. L. 85–791, in second sentence, substituted “transmitted by the clerk of the court to” for “served upon”, struck out “certify and” before “file in the court”, struck out “a transcript of” after “file in the court”, and inserted “as provided in section 2112 of title 28”.
Executive DocumentsTransfer of FunctionsFor transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.
Notes of Decisions
Washington Gas Light Co. v. Public Service Commission (2009)
dc · cites it 6×
“[34] Of those, the closest linguistically to § 604(b) is 15 U.S.C. § 77i(a). That statute provides, "No objection to [an] order of the [Securities and Exchange] Commission shall be considered by the court unless such objection shall have been urged before the [SEC].”
Twin Rivers Paper Co. v. SEC. & Exch. Comm'n (2019)
cadc · cites it 2×
“…any person aggrieved by an SEC regulation to seek judicial review in this Court. See 15 U.S.C. §§ 77i(a), 80a-42(a) ; N.Y. Republican State Comm. v. S.E.C. , <a href="/opinion/2”
Malouf v. SEC. & Exch. Comm'n (2019)
ca10 · cites it 2×
“See 15 U.S.C. §§ 77i(a) (Securities Act), 78y(c) (Securities Exchange Act), 80b-13(a) (Investment Advisers Act).”
Bernerd Young v. SEC (2020)
cadc · cites it 3×
“2018) (per curiam) (holding that Rule 26(b)(2) bars tolling of time to file a petition for review of an SEC order under 15 U.S.C. §§ 77i, 78y(a)(1), 80b-13). Amicus for Mr.”
Nolfi v. Ohio Kentucky Oil Corp. (2012)
ca6 · cites it 2×
“After discovery, the Nonneman plaintiffs learned that OKO had engaged in a general solicitation to sell its investments, rendering it unqualified for the SEC filing exemption it had sought, and they filed a second securities claim under § 12(a)(1) of the Securities Act of 1933,…”
Yakus v. United States (1944)
scotus · cites it 2×
“81 , 15 U.S.C. § 77i; the Securities Exchange Act of 1934, 48 Stat.”
Island Creek Coal Co. v. Melyndia Bryan (2019)
ca6
“…mandate (with a built-in exception) could not be stated in plainer terms. Many statutes fit the same mold. E.g., 15 U.S.C. § 77i(a); 29 U.S.C. § 160 (e); 47 U.S.C. § 405 (a); United States v. L.A. Tucker Truck Lines, Inc., <span class="citat”
— 15 U.S.C. § 77i(1) — 2 cases
— 15 U.S.C. § 77i(2) — 71 cases
— 15 U.S.C. § 77i(a) — 42 cases
Washington Gas Light Co. v. Public Service Commission (2009)
dc
“[34] Of those, the closest linguistically to § 604(b) is 15 U.S.C. § 77i(a). That statute provides, "No objection to [an] order of the [Securities and Exchange] Commission shall be considered by the court unless such objection shall have been urged before the [SEC].”
Twin Rivers Paper Co. v. SEC. & Exch. Comm'n (2019)
cadc
“…any person aggrieved by an SEC regulation to seek judicial review in this Court. See 15 U.S.C. §§ 77i(a), 80a-42(a) ; N.Y. Republican State Comm. v. S.E.C. , <a href="/opinion/2”
Malouf v. SEC. & Exch. Comm'n (2019)
ca10
“See 15 U.S.C. §§ 77i(a) (Securities Act), 78y(c) (Securities Exchange Act), 80b-13(a) (Investment Advisers Act).”
— 15 U.S.C. § 77i(a)(1) — 1 case
— 15 U.S.C. § 77i(a)(2) — 58 cases
— 15 U.S.C. § 77i(a)(2)(2003) — 1 case
— 15 U.S.C. § 77i(a)(l) — 6 cases
Nolfi v. Ohio Kentucky Oil Corp. (2012)
ca6
“After discovery, the Nonneman plaintiffs learned that OKO had engaged in a general solicitation to sell its investments, rendering it unqualified for the SEC filing exemption it had sought, and they filed a second securities claim under § 12(a)(1) of the Securities Act of 1933,…”
— 15 U.S.C. § 77i(b) — 6 cases
— 15 U.S.C. § 77i(l) — 29 cases
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