News | 11.04.19
Supreme Court Weighs SEC Clawback Challenge
The Supreme Court said it would consider a challenge to the SEC's ability to claw back ill-gotten gains from those who commit financial fraud. A 2017 Supreme Court ruling placed time limits on SEC disgorgement actions. Opponents of the SEC's approach say the logic of that high-court decision suggests the commission doesn't have disgorgement authority at all. The justices said Friday that they would decide that issue in an appeal by a California couple who operated a program that offered the possibility of permanent residence to immigrants who invest in certain U.S. business enterprises.
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