Supreme Court Is Asked to Weaken the SEC’s Ability to “Make Things Right”: Amici Curiae Brief
This March, the Supreme Court is set to hear oral argument on whether the SEC may continue seeking “disgorgement”—or the giving-up of all ill-gotten gains—in civil enforcement proceedings brought in federal court. The SEC has long taken the view that wrongdoers should not be permitted to reap the benefits from their misconduct. And while stark political differences have emerged over the SEC’s imposition of corporate penalties in recent years, the SEC’s ability to seek disgorgement has generally gone unquestioned.
The above excerpt was originally published in Harvard Law School Forum on Corporate Governance. Click here to view the full article.
Fellow, Global Financial Markets Center, Duke University School of Law