June 22, 2020

Brown Statement on the Supreme Court’s Ruling In Favor of Investors and the SEC

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement following the Supreme Court’s decision upholding the Securities and Exchange Commission’s (SEC) ability to recover wrongful gains from those who break federal securities laws. The ruling protects investors and keeps bad actors from profiting.

“The Supreme Court’s ruling today confirming courts’ ability to impose disgorgement is an important win for investors. This clarity allows the SEC to make sure bad actors do not keep their ill-gotten gains,” said Brown.

Brown recently urged the SEC to put investors first and effectively implement Regulation Best Interest.