Sripetch v. SEC · ¶8

This Court first addressed these developments in 2017 in Kokesh. There, the SEC argued that no statute of limitations applied to its actions seeking disgorgement. We disagreed, observing instead that 28 U. S. C. § 2462 imposes a 5-year limitations period for “ `any civil fine, penalty, or forfeiture.' ” 581 U. S., at 457 (quoting § 2462). Given what disgorgement had become, we held, the remedy amounted to a civil penalty subject to § 2462's limitations period. Id., at 461–467. In reaching that holding, though, we expressed no “opinion on whether courts possess authority to order disgorgement in SEC enforcement proceedings” to begin with, nor did we express any “opinion . . . on whether courts have properly applied disgorgement principles in this context.” Id., at 461, n. 3.

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