Congressmen Tell High Court That Securities Laws Allow SEC To Seek Disgorgement

Mealey's (January 27, 2020, 12:41 PM EST) -- WASHINGTON, D.C. — The U.S. Congress has enacted a series of securities laws over the past few decades that have clearly stated that the Securities and Exchange Commission may seek disgorgement in bringing civil actions, and the U.S. Supreme Court should affirm a federal district court’s issuance of disgorgement in a securities fraud scheme involving the EB-5 Immigrant Investor Program, a group of 24 congressmen argue in a Jan. 22 brief as amicus curiae in support of the SEC (Charles C. Liu, et al. v. Securities and Exchange Commission, No. 18-1501, U.S. Sup.)....