Two Securities and Exchange Commission (SEC) enforcement officials recently testified that a June 2017 Supreme Court decision inhibits the agency’s ability to recover ill-gotten gains for investors by time-barring disgorgements.
Stephanie Avakian and Steven Peiken, co-directors of the SEC’s Division of Enforcement, detailed their position on the matter during a hearing before a House Financial Services Committee subcommittee.
Find out more details about the impact the high court’s decision will have on federal regulators’ enforcement abilities going forward.