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Jarkesy's Impact on Agency Enforcement Proceedings: Potential Implications for the SEC and Beyond

On 27 June 2024, in a ruling much-anticipated by the securities industry and other similarly regulated industries, the Supreme Court (the Court) held in SEC v. Jarkesy that when the Securities and Exchange Commission (SEC)...more

D.C. Circuit Considers Reversal of Earlier Decision and May Declare SEC Administrative Law Judges Inferior Officers Subject to...

On Wednesday, May 24, 2017, the U.S. Court of Appeals for the District of Columbia Circuit, sitting en banc, heard arguments in Raymond J. Lucia Cos. v. SEC, a case in which it is tasked with deciding whether the...more

Tenth Circuit Decision Finds Against the SEC and Creates a Circuit Split on the Constitutionality of the Commission’s ALJs

In the final days of 2016, the U.S. Court of Appeals for the Tenth Circuit denounced the constitutional authority of the five administrative law judges (“ALJs”) who preside over contested administrative proceedings brought by...more

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