Martin v. United States Securities & Exchange Commission

In 2004, the Securities and Exchange Commission (“SEC”) settled an enforcement action against seven firms that executed trading orders on the New York Stock Exchange (“NYSE”). Pursuant to the settlement orders, the SEC placed the money obtained as a result of the enforcement actions into funds for distribution to *170injured customers. After extensive efforts to identify and compensate injured customers, the SEC ordered that the remaining funds be disbursed to the United States Treasury. Seeking to invoke this Court’s statutory jurisdiction under 15 U.S.C. § 78y to review certain orders of the…