Justices Prioritize Victim Payments In SEC Disgorgement Args

By Dean Seal (March 3, 2020, 11:27 PM EST) -- The U.S. Supreme Court had plenty of questions on Tuesday for the U.S. Securities and Exchange Commission and defendants challenging the agency's ability to collect disgorgement, conveying a clear concern for whether disgorged funds are making their way back to victims.

The U.S. Securities and Exchange Commission's practice of seeking disgorgement drew scrutiny in a U.S. Supreme Court case on Tuesday. (AP) The justices were hearing oral arguments in Liu v. SEC, in which Charles Liu and Xin Wang contend that the agency does not have authority under securities law to seek disgorgement as a form of equitable relief for victims...

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