S.E.C. v. SECURITIES INVESTOR PROTECTION CORP.

Attorney(s) appearing for the Case

John W. Avery , Deputy Solicitor, Securities and Exchange Commission, argued the cause for appellant. With him on the briefs were Michael A. Conley , Deputy General Counsel, Jacob H. Stillman , Solicitor, Tracey A. Hardin , Assistant General Counsel, and Michael L. Post , Senior Litigation Counsel.

Robertson Park , John Heffner , and Mark J. Andrews were on the brief for amici curiae Stanford Victims Coalition, et al. in support of petitioner.

Michael W. McConnell argued the cause for appellee. With him on the brief were Eugene F. Assaf , Edwin J. U , John C. O'Quinn , Elizabeth M. Locke , and Josephine Wang .

Thomas J. Moloney , David Y. Livshiz , Darryl G. Stein , and Sarah E. Edwards were on the brief for amicus curiae Securities Industry and Financial Markets Association in support of appellee.

Steven P. Lehotsky , Joshua S. Press , and Noah Levine were on the brief for amici curiae former SEC officials and professors of law in support of appellee.

Steuart Thomsen was on the brief for amicus curiae Financial Services Institute, Inc. in support of appellee.

Opinion for the Court filed by Circuit Judge SRINIVASAN.