In a unanimous decision that could reshape how the government punishes securities fraud, the Supreme Court ruled that regulators can force wrongdoers to surrender their ill-gotten gains without proving that investors actually lost money. The ruling sounds technical, but it has real consequences. It gives the SEC a powerful tool to strip fraudsters of their profits, even in cases where victims escaped financial harm.

music for the podcast provided by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Dimitry Taras