Supreme Court SEC ill-gotten gains case News

The U.S. Supreme Court on Monday placed limits on the Securities and Exchange Commission’s practice of forcing defendants to surrender profits obtained through fraud as part of its enforcement of investor-protection laws in federal courts. The court reaffirmed the agency’s …

The U.S. Supreme Court on Monday scaled back the Securities and Exchange Commission’s power to recover ill-gotten profits from defendants’ misconduct, handing Wall Street firms a victory and dealing another blow to the regulator’s enforcement powers. In a 9-0 ruling, …