Joel Schwartz was quoted in Bloomberg Law about the U.S. Securities and Exchange Commission's disgorgement authority, the legal remedy that requires companies or an individual to pay back profits that were obtained illegally or unethically. 

A split among federal circuit courts on when the SEC can obtain disgorgement as a remedy in civil enforcement cases has prompted a man recently convicted of engaging in a "pump and dump" scheme to file a petition for review with the U.S. Supreme Court.

"The problem with the SEC is that it has money fines language, but it seems to be a weak-ish tool," Joel said. "They don’t have limited enforcement power; they have limited pain extraction."

You can read the full article here: SEC Power to Recoup Illegal Profits at Risk as Justices Eye Case

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