SCOTUS Delivers Ruling on SEC’s Power To Claw Back Ill-Gotten Gains

to be limited to net profits awarded for victims and tied to equitable principles.

Sripetch argued Liu demanded proof of pecuniary harm; the Court rejected that, clarifying Liu did not impose such a threshold.

This decision is a clear win for the SEC’s ability to combat fraud without the added evidentiary burden of tracing every investor’s losses.

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