The legislation - passed via the first congressional override of the Trump presidency - extends the SEC’s ability to obtain disgorgement for violations of federal securities laws.

Key Points:

..As amended, the Securities Exchange Act of 1934 now expressly authorizes the SEC to seek disgorgement in both pending and future cases filed in federal district court.

..After being limited to a five-year disgorgement period by a 2017 Supreme Court ruling (Kokesh v. SEC), the SEC now may pursue disgorgement awards using an expanded 10-year limitations period for certain scienter-based violations, and was granted a 10-year lookback period for other forms of equitable relief in all cases.