Title 15 › CHAPTER 2D — INVESTMENT COMPANIES AND ADVISERS › SUBCHAPTER II — INVESTMENT ADVISERS › § 80b–13
Anyone hurt by an order from the Commission can ask a U.S. court of appeals to review it. You must file a written request in the appeals court where you live, have your main office, or in the D.C. Circuit within 60 days after the order. The court clerk must send a copy to the Commission, and the Commission must send the record it used to make the order. Once the record is filed, that appeals court has the only power to approve, change, or cancel the order. The court will not consider issues you did not raise before the Commission unless you had a good reason. The Commission’s factual findings stand if supported by enough evidence. The court can allow new evidence if it is important and could not reasonably have been presented earlier; that evidence is taken before the Commission, which may then change its findings. The court’s judgment is final unless the Supreme Court reviews it. Starting the court case does not stop the Commission’s order unless the court orders a stay.
Full Legal Text
Commerce and Trade, Source: USLM XML via OLRC
Legislative History
Reference
Citation
15 U.S.C. § 80b–13
Title 15, Commerce and Trade
Last Updated
Sep 22, 2026
Release point: 119-110