
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC77i]

 
                      TITLE 15--COMMERCE AND TRADE
 
               CHAPTER 2A--SECURITIES AND TRUST INDENTURES
 
                    SUBCHAPTER I--DOMESTIC SECURITIES
 
Sec. 77i. Court review of orders

    (a) Any person aggrieved by an order of the Commission may obtain a 
review of such order in the court of appeals of the United States, 
within any circuit wherein such person resides or has his principal 
place of business, or in the United States Court of Appeals for the 
District of Columbia, by filing in such Court, within sixty days after 
the entry of such order, a written petition praying that the order of 
the Commission be modified or be set aside in whole or in part. A copy 
of such petition shall be forthwith transmitted by the clerk of the 
court to the Commission, and thereupon the Commission shall file in the 
court the record upon which the order complained of was entered, as 
provided in section 2112 of title 28. No objection to the order of the 
Commission shall be considered by the court unless such objection shall 
have been urged before the Commission. The finding of the Commission as 
to the facts, if supported by evidence, shall be conclusive. If either 
party shall apply to the court for leave to adduce additional evidence, 
and shall show to the satisfaction of the court that such additional 
evidence is material and that there were reasonable grounds for failure 
to adduce such evidence in the hearing before the Commission, the court 
may order such additional evidence to be taken before the Commission and 
to be adduced upon the hearing in such manner and upon such terms and 
conditions as to the court may seem proper. The Commission may modify 
its findings as to the facts, by reason of the additional evidence so 
taken, and it shall file such modified or new findings, which, if 
supported by evidence, shall be conclusive, and its recommendation, if 
any, for the modification or setting aside of the original order. The 
jurisdiction of the court shall be exclusive and its judgment and 
decree, affirming, modifying, or setting aside, in whole or in part, any 
order of the Commission, shall be final, subject to review by the 
Supreme Court of the United States upon certiorari or certification as 
provided in section 1254 of title 28.
    (b) The commencement of proceedings under subsection (a) of this 
section shall not, unless specifically ordered by the court, operate as 
a stay of the Commission's order.

(May 27, 1933, ch. 38, title I, Sec. 9, 48 Stat. 80; Pub. L. 85-791, 
Sec. 9, Aug. 28, 1958, 72 Stat. 945; Pub. L. 100-181, title II, 
Sec. 206, Dec. 4, 1987, 101 Stat. 1252.)


                               Amendments

    1987--Subsec. (a). Pub. L. 100-181 substituted ``court of appeals'' 
for ``Circuit Court of Appeals'', ``United States Court of Appeals for 
the District of Columbia, by filing in such Court'' for ``Court of 
Appeals of the District of Columbia, by filing in such court'', and 
``section 1254 of title 28'' for ``sections 239 and 240 of the Judicial 
Code, as amended (U.S.C., title 28, secs. 346 and 347)''.
    1958--Subsec. (a). Pub. L. 85-791, in second sentence, substituted 
``transmitted by the clerk of the court to'' for ``served upon'', struck 
out ``certify and'' before ``file in the court'', struck out ``a 
transcript of'' after ``file in the court'', and inserted ``as provided 
in section 2112 of title 28''.

                          Transfer of Functions

    For transfer of functions of Securities and Exchange Commission, 
with certain exceptions, to Chairman of such Commission, see Reorg. Plan 
No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 
1265, set out under section 78d of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 77h-1, 77vvv of this title.
