U.S. Securities and Exchange Commission--Postjudgment Interest and the Miscellaneous Receipts Statute
B-322531: Mar 30, 2012
- Full Report:
Postjudgment interest collected by the U.S. Securities and Exchange Commission (SEC) under 28 U.S.C. § 1961 on money judgments entered by federal district courts when persons found to have violated federal securities laws have failed to pay monetary sanctions ordered by SEC constitutes money for the government. Accordingly, the miscellaneous receipts statute, 31 U.S.C. § 3302(b), requires that, unless otherwise provided by law, such money must be deposited into the general fund of the Treasury. SEC did not identify and we are not aware of any statute that specifically exempts postjudgment interest from the application of the miscellaneous receipts statute.