Supreme Court to rule on legality of SEC’s in-house enforcement

[Kamaji]

Supreme Court to rule on legality of SEC’s in-house enforcement

By Reuters
June 30, 2023

The US Supreme Court on Friday agreed to hear a bid by President Joe Biden’s administration to defend certain Securities and Exchange Commission in-house enforcement proceedings in a case that could broadly undercut the power of federal agencies.

The justices took up the administration’s appeal of a lower court’s decision that struck down certain SEC enforcement proceedings as unconstitutional for violating the right to a jury trial and infringing on presidential and congressional powers.

The case involves hedge fund manager George Jarkesy, who the SEC had fined and barred from the industry after determining he had committed securities fraud.

The case represents the latest legal attack against the actions of the SEC, which enforces various federal laws that protect investors.

The Supreme Court, which has a 6-3 conservative majority, has signaled skepticism toward expansive federal regulatory power.

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Source:  https://nypost.com/2023/06/30/supreme-court-to-decide-legality-of-sec-in-house-enforcement/