The head of the U.S. Securities and Exchange Commission told lawmakers Thursday he was bothered “from a practical point of view” by a U.S. Supreme Court decision last year that restricts the agency’s ability to recover funds for harmed investors.

The justices, ruling in Kokesh v. United States, said the agency’s authority to claw back ill-gotten gains is subject to a five-year statute of limitations. Testifying Thursday on Capitol Hill, SEC chairman Jay Clayton said the decision poses challenges in efforts to crack down on some of the most-clever frauds.

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