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Stories of Interest
- CFTC Chair Giancarlo Appoints Bruce Tuckman as Chief Economist
- Twice-Convicted Ex-Jefferies Trader Litvak Faces Prison After Losing Bail Request
- Wells Fargo Hikes Full-Year S&P 500 Target
- SEC Institutes Administrative Proceedings Against Shkreli
- Goldman's Lloyd Blankfein Seems to be Making a Habit Out of Trolling Trump
- Goldman on Hunt for Star Traders to Revive Struggling Commodities Unit
- Yahoo Owes Millions for Busting NCAA Tourney Bracket Deal
- JPMorgan Joins 21st Century Fox in Fighting 'Deep Divisions Across Our Country'
- Please, God, Save Gary Cohn From Himself: The Case for Resigning
- Regulatory Considerations When Bringing on a New Advisor
- Why Deutsche Bank is at Mercy of Regulators
- U.S. Treasury Auction Class-Action – Federal Judge Causes Interminable Delay
- Mnuchin Rejects Calls to Resign and Defends Trump
- Best Time to Go to the U.S. (Tennis) Open Tourney - Before It Starts on August 28
- Stifel Prevails in Arbitration But Ex-Hilltop Employees Hit with Awards - Bill Singer
- Banca IMI Securities to Pay $35Mn for Improper Handling of ADRs in Continuing SEC Crackdown
- Members of White House ‘Arts Panel’ Resign En Masse in Protest of Trump
- FINRA Whiffs on Disciplinary Sanction: Bill Singer's 'Negligent Market Manipulation in OTC Stock Promotion'
- Heather Heyer’s Mother Says, ‘I’m Not Talking to the President’
- Goldman Sachs May Have Lost $100Mn on Energy Bet Gone Wrong
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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.