§ 1658 Time limitations on the commencement of civil actions arising under Acts of Congress

Codes > United States Code > Title 28 > Part V : Chapter 111 > 1658

§ 1658. Time limitations on the commencement of civil actions arising under Acts of Congress

    (a) Except as otherwise provided by law, a civil action arising under an Act of Congress enacted after the date of the enactment of this section may not be commenced later than 4 years after the cause of action accrues.

    (b) Notwithstanding subsection (a), a private right of action that involves a claim of fraud, deceit, manipulation, or contrivance in contravention of a regulatory requirement concerning the securities laws, as defined in section 3(a)(47) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(47)), may be brought not later than the earlier of--

        (1) 2 years after the discovery of the facts constituting the violation; or

        (2) 5 years after such violation.