United States: Disgorgement Debate: Supreme Court to Hear Sripetch v. SEC
By: Hayley Trahan-Liptak, Christopher F. Warner, and Bridget K. McKelvey
The Supreme Court will soon once again weigh in on the US Securities and Exchange Commission’s (SEC) enforcement powers, this time addressing whether disgorgement is available without showing that victims suffered pecuniary harm. Last week, the Supreme Court agreed to hear SEC vs. Sripetch, et al., a Ninth Circuit decision affirming a disgorgement award despite the SEC’s failure to demonstrate defrauded investors suffered pecuniary harm.1
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