Congress Confirms SEC's Disgorgement Power: Recovery for Investors or Revenue for Government?
By EsqSocial Corporation 20/01/21
Tucked into the 2021 National Defense Authorization Act (NDAA) passed over a presidential veto on January 1, 2021, on page 1,238 of the 1,480-page bill, was a modification to the Securities Exchange Act of 1934 (Exchange Act) that constitutes a response to a couple of recent Supreme Court cases that had limited the U.S. Securities and Exchange Commission’s (SEC) ability to obtain disgorgement from defendants in enforcement actions....
By: Arnall Golden Gregory LLP