• Kirk Hartley

SEC Moves Towards More Use of a Statutory Version of Conspiracy Liability or Aiding And Abetting

A May 27, 2014 article in Dealbook reports that the SEC is telling the finance community it will make more use of a statutory term that imposes liability when legal acts by others are used to accomplish an illegal goal. According to the article:

“Section 20(b) provides that “It shall be unlawful for any person, directly or indirectly, to do any act or thing which it would be unlawful for such person to do under the provisions of this chapter or any rule or regulation thereunder through or by means of any other person.” Under the criminal law, this is known as the “innocent instrumentality” doctrine, which allows someone to be held responsible for using another person to engage in illegal conduct if that person did not intend to commit a crime.”


About Kirk

Since becoming a lawyer in 1983, Kirk’s over 30 years of practice have focused on advising a wide range of corporations, associations, and individuals (as both plaintiffs and defendants) on both tort and commercial law issues centered around “mass torts.”


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