In a decision issued late last month, the U.S. Court of Appeals for the Second Circuit provided new guidance on the rules governing the U.S. Securities and Exchange Commission's ability to seek the remedy of disgorgement in...more
7/25/2023
/ Appeals ,
Disgorgement ,
Enforcement Actions ,
Investment Advisers Act of 1940 ,
Legislative Agendas ,
Liu v Securities and Exchange Commission ,
New Guidance ,
New Legislation ,
New Rules ,
SCOTUS ,
Securities and Exchange Commission (SEC)
When the Supreme Court in 2020 issued its decision in Liu v. SEC, placing limits upon the Securities and Exchange Commission's ability to obtain disgorgement, many observers believed that the decision would significantly...more
A recent Fifth Circuit ruling suggests a softening of the SEC’s obligation to return disgorgement awards directly to victims, says Elisha Kobre, a partner at Bradley Arant Boult Cummings LLP. The issue is relevant because the...more