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U.S. Supreme Court upholds SEC’s ability to use disgorgement, but with modifications.

Overview At issue are three terms, equitable relief, disgorgement, and penalty. If one were to not burden oneself with defining terms and their context, the U.S. Supreme Court decided to allow the Securities and Exchange Commission (SEC) to seek disgorgement as a remedy in their civil actions under an equitable relief construct. However, the calculation … Read more U.S. Supreme Court upholds SEC’s ability to use disgorgement, but with modifications.

Tim Leissner and 1Malaysia Development Berhad (1MDB)

On December 16, 2019 the Securities and Exchange Commission (SEC) issued a Cease and Desist Order against Respondent Tim Leissner the former senior executive of Goldman Sachs Group, Inc. (Goldman). The Cease and Desist Order cites three specific bond offerings underwritten by Goldman for the 1 Malaysia Development Berhad (1MBD) fund. 1MDB was created to … Read more Tim Leissner and 1Malaysia Development Berhad (1MDB)