Securities and Exchange Commission (SEC), Administrative Law Judge (ALJ), Jurisdiction

District court dismisses bank’s constitutional challenge to FDIC administrative proceedings

Orrick, Herrington & Sutcliffe LLP on 3/5/2025

On March 3, the U.S. District Court for the District of Kansas dismissed a constitutional challenge to enforcement proceedings by the FDIC, ruling the court lacked subject matter jurisdiction over the plaintiff’s claims. As...more

U.S. Supreme Court Scrutiny of Government Agency Tribunals

Harris Beach Murtha PLLC on 4/28/2023

A unanimous decision by the U.S. Supreme Court on April 14, 2023, is likely to have far-reaching implications for government agency tribunals. In consolidated cases involving constitutional challenges to two separate...more

SCOTUS Delivers a Win for Businesses Challenging Federal Agency Actions: 4 Key Takeaways for Employers

Fisher Phillips on 4/24/2023

The Supreme Court recently handed a victory to employers by giving them more tools to challenge federal agencies during administrative proceedings. Employers likely know how daunting it can seem to challenge federal officials...more

SEC in Constitutional Danger Zone Following Several Recent Decisions

Holland & Knight LLP on 6/3/2022

The constitutional spotlight is shining on the U.S. Securities and Exchange Commission (SEC). In the last several weeks, the U.S. Supreme Court agreed to hear a case seeking broader federal jurisdiction for constitutional...more

Jarkesy, Cochran, and the Attack on ALJs

Morrison & Foerster LLP on 5/24/2022

On May 18, 2022, the U.S. Court of Appeals for the Fifth Circuit in Jarkesy v. SEC issued a scathing rebuke of the Securities and Exchange Commission’s (“SEC”) use of administrative law judges (“ALJ”)....more

Fifth Circuit Holds District Court Has Jurisdiction to Hear Constitutional Challenge to SEC Administrative Law Judges

Jones Day on 12/21/2021

The Fifth Circuit's opinion creates a circuit split that raises the possibility of a Supreme Court review. On December 13, 2021, the Fifth Circuit issued an en banc opinion in Cochran v. U.S. Securities & Exchange...more

Inside the Courts – An Update From Skadden Securities Litigators - December 2018

Skadden, Arps, Slate, Meagher & Flom LLP on 12/7/2018

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between September 2018 and October 2018. ...more

Hill v. SEC: Eleventh Circuit Buries District Court Challenges to the Constitutionality of SEC Enforcement Actions

Carlton Fields on 6/24/2016

Last week, the United States Court of Appeals for the Eleventh Circuit held that a district court cannot hear constitutional challenges to an ongoing administration enforcement action of the U.S. Securities and Exchange...more

SEC Administrative Law Judges Ruled Unconstitutional

Dorsey & Whitney LLP on 10/22/2015

A recent decision from the U.S. District Court for the Southern District of New York concludes that the manner in which Administrative Law Judges (“ALJs”) of the U.S. Securities and Exchange Commission (“SEC”) are appointed...more

SEC Again Rejects Constitutional Challenges to Administrative Enforcement Proceedings

Proskauer - Corporate Defense and Disputes on 9/24/2015

The Securities and Exchange Commission again rejected constitutional challenges to the use of administrative enforcement proceedings presided over by Administrative Law Judges (“ALJs”). The Commission’s September 17, 2015...more

Challenges to SEC Forum Selection Decisions

Dorsey & Whitney LLP on 9/2/2015

Two cases challenging the SEC’s use of administrative proceedings based on the Constitution’s Appointment Clause are headed for the Circuit Courts. One, Duka v. SEC will be considered by the Second Circuit. A second, Hill v....more

Defendants Challenge SEC’s Increased Use of Administrative Forum

Carlton Fields on 4/6/2015

The Dodd-Frank Act expanded the SEC’s jurisdiction to compel administrative hearings and to seek sanctions and remedies similar to those in federal court. The Commission’s recent policy of commencing more enforcement...more

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