Jul 10, 2026 · 20 min · 12 segments
The Supreme Court just handed the SEC a unanimous victory in a high-stakes disgorgement case—but is it actually an empty win? Co-hosts Nick Morgan and Tom Zaccaro sit down with former SEC economic…
Tom ZaccaroHostAnd specifically, the Supreme Court earlier this month rendered its opinion in a case called SEC v. Stripech.
We think we're pronouncing his name right, so Mr. Stripech, tell us if we're wrong.
The question presented was whether the SEC could obtain disgorgement in the absence of proving investor harm or financial or pecuniary harm.
But Aaron wrote a very insightful article that captured Our sort of reaction to the opinion and the title of your article, Aaron, was Stripich may prove to be an empty victory for the SEC.
Remind us what is discouragement? Why is it important? And what did the Supreme Court do in Stripich? And then we'll get to Aaron's points on the case.
And specifically, the Supreme Court earlier this month rendered its opinion in a case called SEC v. Stripech.
We think we're pronouncing his name right, so Mr. Stripech, tell us if we're wrong.
The question presented was whether the SEC could obtain disgorgement in the absence of proving investor harm or financial or pecuniary harm.
But Aaron wrote a very insightful article that captured Our sort of reaction to the opinion and the title of your article, Aaron, was Stripich may prove to be an empty victory for the SEC.
Remind us what is discouragement? Why is it important? And what did the Supreme Court do in Stripich? And then we'll get to Aaron's points on the case.
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