Supreme Court Bolsters SEC’s Power
SEC’s headquarters
Photographer: Matt McClain/Bloomberg
The Supreme Court has reinforced the SEC’s power to recover illegal profits, Greg Stohr reports.
The justices ruled unanimously that SEC doesn’t have to show identifiable investor harm in order to win “disgorgement” from people and firms found to have violated federal securities laws. The ruling, which ends a recent losing streak for the agency, will shape a panoply of cases in which victims aren’t easy to pinpoint.
The SEC used disgorgement to secure orders for more than $6 billion in fiscal 2024 and almost $11 billion last year.
Writing for the court yesterday, Justice ...
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