Sripetch v. SEC · ¶22

Before us, the parties spill much ink debating how the addition of § 78u(d)(7) affects the scope of the SEC's disgorgement powers. Mr. Sripetch contends that the same equitable constraints Liu held applicable to disgorgement under § 78u(d)(5) also apply under § 78u(d)(7). See Brief for Petitioner 20–21. That is so, he says, because Congress meant simply to codify Liu when it adopted § 78u(d)(7) and expressly authorized a disgorgement remedy for the first time. Beyond that, Mr. Sripetch argues, the primary function of Congress's work was to resolve what limitations period should apply to the SEC's disgorgement remedy after the unsettling effect Liu had on that question. See § 78u(d)(8).

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