9 Enacted through Section 929M(b) of the Dodd-Frank Act and titled “Aiding and Abetting Authority Under the [ICA,]” Section 48(b) provides: “[A]ny person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this Act, or of any rule or regulation issued under this Act, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided.” 15 U.S.C. § 80a-48(b). Case3:11-cv-00137-WHA Document121 Filed05/03/12 Page24 of 34 DEFENDANT KIMON P. DAIFOTIS’ MOTION FOR SUMMARY JUDGMENT Civil Case No.: 11-cv-00137-WHA - 16 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 possession.

(Order at 18). This Court’s Order did dismiss one claim without prejudice for some minor pleading insufficiencies and another claim brought under section 48(a) of the Investment Company Act of 1940, 15 U.S.C. § 80a-48(a), with prejudice on the ground that there was no private right of action for a section 48(a) claim. (Order at 19, 30-34).

..........................................................11, 12 15 U.S.C. § 80a-15(a)(1)................................................................................................................11 Case 3:13-cv-00046 Document 37 Filed 03/28/13 Page 5 of 34 PageID #: 476 v 15 U.S.C. § 80a-17 ................................................................................................................. passim 15 U.S.C. § 80a-35(b) ............................................................................................................ passim 15 U.S.C. § 80a-35(b)(3) ...............................................................................................................25 15 U.S.C. § 80a-35(b)(4) .................................................................................................................6 15 U.S.C. § 80a-46(b) ..................................................................................................15, 16, 18, 19 15 U.S.C. § 80a-48 .........................................................................................................................13 15 U.S.C. § 80b-15 ........................................................................................................................15 18 U.S.C. § 1961 ............................................................................................................................15 42 U.S.C. § 1983 ............................................................................................................................15 17 C.F.R. § 270.17d-1 ..............................................................................................................11, 12 Fed. R. Civ. P. 8(d)(3)......................................................................................................................7 Fed. R. Civ. P. 12(b)(6)....................................................................................................................1

15 U.S.C. § 80a-36(b) (emphasis supplied). 3 15 U.S.C. § 80a-48 provides for a fine of up to $10,000 or imprisonment up to five years for the willful violation of any provision of the Investment Company Act. - 4 - Case 1:05-cv-12618-NMG Document 34 Filed 03/31/06 Page 4 of 9 Because Section 37 of the Investment Company Act is a criminal statute, it cannot and does not create a civil cause of action or civil remedies.