Columbia General Investment Corporation v. Securities and Exchange Commission

JOHN R. BROWN, Circuit Judge.

This is a Petition for Review of a stop order issued by the Securities and Exchange Commission suspending a registration by Columbia General Investment Corporation (Columbia) for the sale of 100,000 shares of stock at a specified price. Columbia’s principal contention is that SEC lacked jurisdiction to issue the stop order because, prior to the effective date of the registration, Columbia voluntarily requested its withdrawal. This was, it claims, its absolute right, unfettered by any agency discretion whether innate or pursuant to SEC’s express regulation 477.1 If…