Supreme Court Voices Little Interest in More Curbs on SEC

The US Supreme Court expressed little enthusiasm for curbing one of the Securities and Exchange Commission’s most important enforcement tools, as the justices weighed restricting the financial watchdog’s power to collect ill-gotten gains.

Hearing arguments in Washington Monday, the court considered whether the SEC must show identifiable investor harm in order to win “disgorgement,” a legal remedy designed to recoup illicit profits and return them to victims.