The SEC's disgorgement practices in recent enforcement actions have sparked a broader debate about regulatory authority. Beyond the technical legal questions, there's a more fundamental concern worth examining: how much unchecked power should federal agencies like the SEC possess? Cases involving disgorgement penalties raise critical questions about enforcement discretion and the balance between investor protection and regulatory overreach. The issue goes deeper than compliance mechanics—it challenges how these agencies operationalize their mandate and whether current mechanisms provide adequate checks on their authority.