Siegel v. SEC, No. 08-1379

In a petition for review of the SEC's affirmance of the National Association of Securities Dealers' award of restitution against petitioner-securities representative, the petition is granted where the SEC completely failed to articulate any meaningful standards governing the level of causation required under Principle 5 of the Financial Industry Regulatory Authority Sanction Guidelines.

Read Siegel v. SEC, No. 08-1379

Appellate Information

Argued September 14, 2009

Decided January 12, 2010

Judges

Opinion by Judge Edwards

Counsel

For Petitioner:

George C. Freeman, III, Washington, DC

For Respondent:

Rada Lynn Potts and David M. Becker, Securities and Exchange Commission, Washington, DC