( February 26, 2025, 10:18 AM EST) -- BOSTON — A split panel of the First Circuit U.S. Court of Appeals affirmed a district court’s grant of partial summary judgment in favor of the Securities and Exchange Commission and the amount ordered in disgorgement against the CEO of a holding company for violating the registration provision of federal securities laws but found that the lower court erred in holding that it lacked the power to issue a civil penalty....