M Alexander Koch

M Alexander Koch

August 15, 2017 | Corporate Counsel

Reflections on Kokesh v. SEC

In reference to Kokesh, most commentators have focused on the five-year limitations period, which certainly carries important ramifications for the SEC. But as we describe here, the Supreme Court's ruling that "SEC disgorgement constitutes a penalty" has more far-reaching ramifications.

By Dixie L. Johnson and M. Alexander Koch

16 minute read