(Dis)Incentivizing Securities Fraud: How Congress Found a Sufficient Deterrent in Legal, Not Equitable, Disgorgement
By Henry Merschat On October 31, 2023, the Second Circuit dealt a major blow to the disgorgement remedy, holding in SEC v. Govil that courts cannot order securities law violators to cough up their ill-gotten gains unless the SEC can point to a victim who has lost money. In other […]