United States Fourth Circuit

If a broker's fraudulent actions are not sufficiently connected with a securities transaction, the federal securities laws (S 17(a) of the Securities Act of 1933, S 10(b)of the Securities Exchange Act of 1934) do not reach every claim for the theft or conversion of a security from a brokerage account.

Appellate Information

• Argued 10/30/2000
• Decided 12/27/2001
• Published 12/27/2001

Judges

• Before WILKINSON, Chief Judge, and MICHAEL and TRAXLER, Circuit Judges.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• ARGUED:  Erin J. Roth, Student Counsel, Appellate Litigation Program, Georgetown University Law Center, Washington, DC, for Appellant.   Melinda Hardy, Assistant General Counsel, Securities and Exchange Commission, Washington, DC, for Appellee.   ON BRIEF:  Steven H. Goldblatt, Director, Lisa M. Porcari, Supervising Attorney, Robert L. Jacobson, Student Counsel, Appellate Litigation Program, Georgetown University Law Center, Washington, DC, for Appellant.  David M. Becker, General Counsel, Meyer Eisenberg, Deputy General Counsel, Richard M. Humes, Associate General Counsel, Philip J. Holmes, Attorney-Fellow, Securities and Exchange Commission, Washington, DC, for Appellee.