# Does SEC Disgorgement Require Investor Harm?

Page: https://stenobird.com/podcast/unwritten-law-7233280/does-sec-disgorgement-require-investor-harm
Text version: https://stenobird.com/podcast/unwritten-law-7233280/does-sec-disgorgement-require-investor-harm.md
Podcast: [Unwritten Law](https://stenobird.com/podcast/unwritten-law-7233280)
Published: 2026-02-24T13:00:00+00:00
Episode link: https://unwritten-law.captivate.fm/episode/does-sec-disgorgement-require-investor-harm
Audio file: https://episodes.captivate.fm/episode/ddaf0a29-8933-4b0c-9479-0df13ab4d272.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/unwritten-law-7233280/episodes/does-sec-disgorgement-require-investor-harm
Duration seconds: 990

## Resource

In this episode of Unwritten Law , NCLA Senior Litigation Counsel John Vecchione is joined by NCLA Senior Litigation Counsel Kara Rollins to discuss Sripetch v. SEC , a securities law case scheduled to be argued before the U.S. Supreme Court in April. The case asks a critical question: must the Securities and Exchange Commission prove that investors suffered actual financial harm in order to obtain disgorgement in a civil enforcement action? John and Kara explain how recent Supreme Court decisions, including Kokesh and Liu , narrowed the SEC’s disgorgement authority while leaving this issue unresolved.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/unwritten-law-7233280/episodes/does-sec-disgorgement-require-investor-harm/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/unwritten-law-7233280/does-sec-disgorgement-require-investor-harm.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.