The U.S. Supreme Court delivered an important enforcement win to the Securities and Exchange Commission by preserving the agency’s ability to seek disgorgement in civil cases, including in the matter involving defendant Sripetch. For securities litigators and regulated businesses, the ruling is a reminder that even as the Court has shown increasing skepticism toward parts of the administrative state, it is not categorically stripping agencies of meaningful remedial tools.

Disgorgement has long been one of the SEC’s most potent remedies.