SEC’s Good Day in Court and Wine Scam Sentencing: New York Brief

SEC looks likely to retain its disgorgement authority, a great wine collection that didn’t exist, and Julie Menin backs the pied-à-terre tax, below:

High Court Skeptical of Diluting SEC Tool

The US Supreme Court expressed little enthusiasm for curbing one of the SEC’s most important enforcement tools, as the justices weighed restricting Wall Street’s regulator for the fourth time in a decade, Greg Stohr reports.

Hearing arguments, 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.

The high court ...