Securities & Exchange Commission v. Cayman Islands Reinsurance Corp.

Second Circuit

Securities & Exchange Commission v. Cayman Islands Reinsurance Corp.

734 F.2d 118, 1984 U.S. App. LEXIS 22669

CourtCourt of Appeals for the Second Circuit

DecidedMay 8, 1984

DocketNo. 1041, Dockets 83-6277, 83-6287

StatusPublished

Cited by1 cases

This text of 734 F.2d 118 (Securities & Exchange Commission v. Cayman Islands Reinsurance Corp.) is published on Counsel Stack Legal Research, covering Court of Appeals for the Second Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Securities & Exchange Commission v. Cayman Islands Reinsurance Corp., 734 F.2d 118, 1984 U.S. App. LEXIS 22669 (2d Cir. 1984).

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Opinion

PER CURIAM:

The appeal and cross-appeal have been taken from certain of Judge Conner’s findings of fact and conclusions of law reported at SEC v. Scott, 565 F.Supp. 1513 (S.D.N.Y.1983).

Judge Conner’s finding that there was no reasonable likelihood that Dirks would commit future violations of the anti-fraud provisions of the federal securities laws is not clearly erroneous. Given that finding, his refusal to enjoin Dirks from committing such violations was entirely proper. See SEC v. Commonwealth Chemical Securities, Inc., 574 F.2d 90, 99-100 (2d Cir.1978). The judgment on the appeal is therefore affirmed.

Since the findings of fact underlying Judge Conner’s conclusion that Dirks violated Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a), Section 10(b) of the Securities Exchange Act, 15 U.S.C. § 78j(b), and SEC Rule 10b-5, 17 C.F.R. § 240.10b-5, are also not clearly erroneous, the judgment on the cross-appeal is affirmed.

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PER CURIAM:

The appeal and cross-appeal have been taken from certain of Judge Conner’s findings of fact and conclusions of law reported at SEC v. Scott, 565 F.Supp. 1513 (S.D.N.Y.1983).

Judge Conner’s finding that there was no reasonable likelihood that Dirks would commit future violations of the anti-fraud provisions of the federal securities laws is not clearly erroneous. Given that finding, his refusal to enjoin Dirks from committing such violations was entirely proper. See SEC v. Commonwealth Chemical Securities, Inc., 574 F.2d 90, 99-100 (2d Cir.1978). The judgment on the appeal is therefore affirmed.

Since the findings of fact underlying Judge Conner’s conclusion that Dirks violated Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a), Section 10(b) of the Securities Exchange Act, 15 U.S.C. § 78j(b), and SEC Rule 10b-5, 17 C.F.R. § 240.10b-5, are also not clearly erroneous, the judgment on the cross-appeal is affirmed.

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734 F.2d 118, 1984 U.S. App. LEXIS 22669, Counsel Stack Legal Research, https://law.counselstack.com/opinion/securities-exchange-commission-v-cayman-islands-reinsurance-corp-ca2-1984.

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