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Penalties in Equity: Disgorgement after Kokesh v. SEC

Listwa, Daniel B.
; 
Seidell, Charles
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Yale Journal on Regulation
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Abstract
This Note defends the SEC's statutory authority to seek judicial disgorgement. In Kokesh v. SEC, the Supreme Court held that judicial disgorgement brought by the SEC constitutes a penalty for the purpose of the five-year statute of limitations in 28 U.S.C. § 2462. In the following months, scholars and practitioners-and at least one putative class action-have argued that this opinion spells the end for judicial disgorgement.
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http://hdl.handle.net/20.500.13051/8272