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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
SEC Suspends Some In-House Court Cases After Court of Appeals Issues Ruling
The fate of the SEC's in-house administrative law judges plays out in two U.S. Courts of Appeal:
- The U.S. Court of Appeals for the 10th Circuit in Denver earlier this month turned down a request by the SEC to reconsider an earlier which found that the SEC's hiring of administrative law judges violated the Constitution, and thus likely nullifies hundreds of decisions made in securities cases in Colorado and 5 other Western states.
- The U.S Court of Appeals for the District of Columbia Circuit, which previously sided with the SEC when it found that the Agency's hiring of administrative law judges did not violate federal law, heard oral arguments Wednesday morning and is due to reconsider its earlier ruling - albeit an opinion could be months away.
- In any event, the issue of whether the SEC's use of administrative law judges is constitutional is likely headed for the U.S. Supreme Court.
In the meantime, the SEC will err on the side of caution. In an order issued 5/22, the SEC announced that it has opted to suspend some of its pending in-house cases - specifically, any cases in which a defendant will have an option to appeal a case before the Tenth Circuit Court of Appeals, covering Colorado, Kansas, New Mexico, Oklahoma, Utah and Wyoming.