On Jan. 1, 2021, the U.S. Congress rang in the new year by passing theWilliam M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021. Buried in the massive spending bill is §6501, a provision authorizing the U.S. Securities
Congress Leaves SEC Subject to Litigation Over Disgorgement
Buried in the massive National Defense Authorization Act for Fiscal Year 2021 is §6501, a provision authorizing the SEC to seek disgorgement of unjust enrichment within 10 years for certain securities law violations, and five years for others.

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