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Stories of Interest
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
- Mueller Just Crossed Trump's Red Line, With Deutsche Bank Subpoena
- Wildfire Rages Near Los Angeles
- Former Company Insider Has $4.1Mn Payday as a Whistleblower
- Audit Firm, Anton & Chia, Conducted Fraudulent Audits of Penny Stock Companies - SEC
- Mueller Subpoenas Deutsche Bank Records on Trump and Family
- Bitcoin Nearly Halfway to $400Bn Value Predicted by Winklevoss Twins 4 Years Ago
- Fidelity Clients Suffer Second Website Glitch in Week
- CBOE Beats CME to Bitcoin Futures Launch with December 10 Start
- McKinsey Senior Exec Thomas Barkin Named New Head of Federal Reserve Bank of Richmond
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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.