In an amicus curiae filed last week, the Securities and Exchange Commission argued that those who aid and abet fraud should be liable as a “primary violator” who perpetrated the fraud.
Amicus curiae, Latin for “friend of the court,” refers to a legal brief that is submitted to a court to present a particular point of view in a case. The briefs are typically submitted by entities that are not party to the case, but that have some interest in the outcome.
