The United States Court of Appeals for the Second Circuit has curtailed the SEC’s ability to seek disgorgement without demonstrating actual financial harm to investors. This development has prompted Ripple’s Chief Legal Officer, Stuart Alderoty, and legal expert Jeremy Hogan to provide valuable insights into the implications of this case for regulatory practices and companies affected, such as Ripple. In a recent case involving the SEC and defendant Jignesh Govil, the Second Circuit has restricted the SEC’s authority to pursue disgorgement, emphasizing that investors must have suffered monetary losses to justify such claims. This interpretation aligns with the precedent set
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