Nicolas Morgan

In a surprising move, the SEC has asked the U.S. Supreme Court to review a Ninth Circuit ruling that upheld the agency’s use of disgorgement, even when no investors were harmed. The case, SEC v. Sripetch, highlights a growing split among federal appellate courts: Some circuits require proof of actual victim losses to justify disgorgement, while others — including the Ninth and First Circuits — do not. In this episode, Morgan and Zaccaro are joined by Keri Axel, a former SEC enforcement attorney

The highly controversial SolarWinds cyber fraud case collapsed entirely. The SEC was forced to surrender its legal fight against the company and CISO Tim Brown, dismissing the case with prejudice—an outcome almost never seen in SEC litigation.

In this episode of Capital Ideas, we’re joined by David Weild IV—former NASDAQ Vice Chair and widely recognized as the “father of the JOBS Act.” With decades of Wall Street experience and a fierce passion for fixing broken systems, Weild delivers a searing critique of the U.S. capital formation landscape.