Sripetch v. SEC · ¶47

But, less than a year later, Congress amended the Exchange Act. § 6501, 134 Stat. 4625. Congress added a new subsection—§ 78u(d)(7)—authorizing the SEC to seek “disgorgement.” Id., at 4626. A separate subsection conferred on federal district courts the power to “require disgorgement . . . of any unjust enrichment.” § 78u(d)(3)(A)(ii). And, Congress set different limitations periods for “disgorgement” and “equitable remedies.” §§ 78u(d)(8)(A), (B). “Disgorgement” is subject to either a 5- or 10-year limitations period depending on the underlying violation, § 78u(d)(8)(A), while “any equitable remedy” must be sought within 10 years, § 78u(d)(8)(B).

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