The 3rd Circuit in Stanley Baer, et al. v. United States, No. 12-1319 (Decided July 1, 2013), affirmed the District Court's dismissal of an action brought by victims of the well-known Ponzi scheme operated by Bernard Madoff against the United States under the Federal Tort Claims Act (FTCA) to recover damages for injuries resulting from failure of the Securities and Exchange Commission (SEC) to uncover and terminate Madoff's Ponzi scheme in a timely manner. The Court upheld the ruling that such claims are barred by the discretionary function exception of the FTCA codified at 28 U.S.C. §2680(a), noting that Appellants failed to identify any violation of a mandatory policy or guideline by an SEC employee.