Except as otherwise provided by law, a civil action arising under an Act of Congress enacted after the date of the enactment of this section may not be commenced later than 4 years after the cause of action accrues.
15 U.S.C. 78c(a)(47) Notwithstanding subsection (a), a private right of action that involves a claim of fraud, deceit, manipulation, or contrivance in contravention of a regulatory requirement concerning the securities laws, as defined in section 3(a)(47) of the Securities Exchange Act of 1934 (), may be brought not later than the earlier of—
2 years after the discovery of the facts constituting the violation; or
5 years after such violation.
Pub. L. 101–650, title III, § 313(a)104 Stat. 5114Pub. L. 107–204, title VIII, § 804(a)116 Stat. 801(Added , , ; amended , , .)
Editorial Notes
References in Text
Pub. L. 101–650The date of the enactment of this section, referred to in subsec. (a), is the date of enactment of , which was approved .
Amendments
Pub. L. 107–2042002— designated existing provisions as subsec. (a) and added subsec. (b).
Statutory Notes and Related Subsidiaries
Effective Date of 2002 Amendment
Pub. L. 107–204, title VIII, § 804(b)116 Stat. 801
section 1658(b) of title 28“The limitations period provided by , United States Code, as added by this section, shall apply to all proceedings addressed by this section that are commenced on or after the date of enactment of this Act [].”
, , , provided that:
Effective Date
Pub. L. 101–650, title III, § 313(c)104 Stat. 5115
“The amendments made by this section [enacting this section] shall apply with respect to causes of action accruing on or after the date of the enactment of this Act [].”
, , , provided that:
No Creation of Actions
Pub. L. 107–204, title VIII, § 804(c)116 Stat. 801
“Nothing in this section [amending this section and enacting provisions set out as a note under this section] shall create a new, private right of action.”
, , , provided that: