Securities,
Administrative/Regulatory
Nov. 30, 2023
Supreme Court majority skeptical of SEC in-house courts
Justices appointed by Republican presidents seemed skeptical of arguments by Principal Deputy Solicitor General Brian H. Fletcher, who argued that Congress can allow administrative agencies to try cases.
Conservative justices on the U.S. Supreme Court appeared inclined Wednesday to rule that the Securities and Exchange Commission violated a hedge fund manager’s constitutional rights by trying his case in house.
The SEC appealed a 5th U.S. Circuit Court of Appeals ruling that the agency’s adjudication of hedge fund manager George R. Jarkesy Jr.’s case violated his Seventh Amendment right to a jury trial.
An agency...
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