Liu v. SEC: The US Supreme Court Upholds the SEC’s Power to Obtain Disgorgement in Civil Actions, but with Important Limitations -
On June 22, the Supreme Court held in Liu v. SEC that the Securities and Exchange...more
10/1/2020
/ Administrative Authority ,
Calculation of Damages ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
On June 22, the Supreme Court held in Liu v. SEC that the SEC may obtain disgorgement in federal court cases, as long as the disgorgement does not exceed a wrongdoer’s “net profits and is awarded for victims.” The Court’s...more
6/25/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
On August 23, 2019, the Securities and Exchange Commission (SEC or Commission) held in In re John M.E. Saad that the US Supreme Court’s decision in Kokesh v. SEC had no impact on the Financial Industry Regulatory Authority’s...more