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SEC v Jarkesy Civil Monetary Penalty Administrative Authority

Cranfill Sumner LLP

After Jarkesy, What Is Next for In-House Enforcement Proceedings?

Cranfill Sumner LLP on

Much virtual ink has been spilled in the weeks and months since the Supreme Court issued its opinion in Securities and Exchange Commission v. Jarkesy—much attesting to that the decision was the death knell for in-house...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for July 2024

SEC Loses in ALJ Case, DOL’s Latest Fiduciary Rule Put on Hold, and SEC Reconsiders AI and Custody Rule Proposals - Welcome to our July Regulatory Roundup, where we provide a quick look at the latest regulatory developments....more

Stoel Rives - Environmental Law Blog

SEC v. Jarkesy: In-House Adjudicators are Out and the Jury is In

Why do environmental professionals need to know about a recent securities case? Read on for details. In response to the Wall Street Crash of 1929, Congress passed the Securities Act of 1933, the Securities Exchange Act of...more

Steptoe & Johnson PLLC

Two U.S. Supreme Court Decisions Will Affect the Securities Industry

Steptoe & Johnson PLLC on

The Supreme Court of the United States (SCOTUS) recently issued two opinions that are likely to have a longer-term effect on the way securities industry matters are handled. Juries, not the Securities Exchange Commission...more

Schwabe, Williamson & Wyatt PC

Civil Penalties Pivot to Federal Courts, Post-Jarkesy

The Supreme Court’s June 27 decision in Securities and Exchange Commission v. Jarkesy marks ‎a pivotal shift in administrative law, potentially limiting administrative adjudication of agency ‎enforcement across the federal...more

Wiley Rein LLP

Supreme Court Holds That Federal Agencies May Seek Punitive Money Penalties Only Before A Jury

Wiley Rein LLP on

Last week the U.S. Supreme Court held in SEC v. Jarkesy that a defendant in a securities fraud suit has the right to be tried by a jury in an Article III court, rather than before an agency’s own tribunal. The Court’s...more

Womble Bond Dickinson

SEC v. Jarkesy: How Impactful Is It Really on the SEC’s Enforcement Program?

Womble Bond Dickinson on

In SEC v. Jarkesy, the Supreme Court held that the Seventh Amendment requires the U.S. Securities and Exchange Commission (“SEC” or “the Commission”) to litigate in federal district court when seeking civil monetary penalties...more

Baker Donelson

U.S. Supreme Court Declares SEC's Action for Civil Money Penalties Unconstitutional, Upending Administrative Enforcement Powers

Baker Donelson on

On June 27, 2024, the U.S. Supreme Court affirmed a Fifth Circuit decision that called into question the future of certain in-house administrative enforcement actions, which we reviewed here. Specifically, in Securities and...more

Venable LLP

Jarkesy: SEC Change-Up - The Supreme Court Curbs the Use of Administrative Courts for Litigated Fraud Claims and Civil Penalties

Venable LLP on

In a landmark decision issued last week, SEC v. Jarkesy, the Supreme Court held that the Seventh Amendment guarantees a defendant a jury trial when the SEC seeks civil penalties against the defendant for committing securities...more

Miller Canfield

U.S. Supreme Court Curtails Securities and Exchange Commission’s In-House Authority to Penalize Securities Fraud

Miller Canfield on

On June 28, 2024, the Supreme Court issued a significant decision that could have wide-ranging consequences for administrative agency enforcement actions. In Securities and Exchange Commission v. Jarkesy, the Court held that...more

BakerHostetler

Supreme Court Limits SEC Administrative Actions, Upholds Defendants’ Right to a Jury

BakerHostetler on

On Thursday, June 27, the Supreme Court, in a 6-3 decision, held that the Seventh Amendment entitles a defendant to a jury trial in instances where the SEC seeks civil penalties against that defendant for alleged securities...more

Wiley Rein LLP

SEC v. Jarkesy: SCOTUS Restores Constitutional Protections to Agency Enforcement Actions

Wiley Rein LLP on

In a broadside to in-house agency adjudications, the U.S. Supreme Court affirmed the constitutional right to a jury trial for defendants in Securities and Exchange Commission (SEC) enforcement proceedings seeking civil...more

The Volkov Law Group

Supreme Court Rules SEC’s In-House Adjudication Is Unconstitutional

The Volkov Law Group on

In a recent decision, Securities and Exchange Commission v. Jarkesy, the Supreme Court voted 6-3 to reject the Securities and Exchange Commission’s use of in-house administrative proceedings to adjudicate securities fraud...more

Wilson Sonsini Goodrich & Rosati

U.S. Supreme Court Holds SEC Cannot Use In-House Proceedings When Seeking Civil Penalties for Securities Fraud

On June 27, 2024, the U.S. Supreme Court held in Securities and Exchange Commission v. Jarkesy that the Seventh Amendment to the United States Constitution entitles a defendant to a jury trial when the U.S. Securities and...more

Morgan Lewis

US Supreme Court Curtails Availability of SEC In-House Proceedings

Morgan Lewis on

In a 6-3 decision, the US Supreme Court on June 27, 2024, in Securities and Exchange Commission v. Jarkesy held that the Seventh Amendment of the US Constitution entitles a defendant to a jury trial when the US Securities and...more

Vedder Price

SEC v. Jarkesy: A Divided Supreme Court Holds That the SEC Cannot Seek Civil Penalties through an Administrative Proceeding

Vedder Price on

On June 27, 2024, the United States Supreme Court (the “Court”) affirmed the Fifth Circuit’s ruling in SEC v. Jarkesy and held that a defendant facing civil penalties in a securities fraud claim brought by the Securities and...more

Morrison & Foerster LLP

The End of SEC Administrative Proceedings? The Supreme Court’s Jarkesy Decision Prohibits the Agency’s Use of ALJs in Enforcement...

On June 27, 2024, the Supreme Court decided in SEC v. Jarkesy that where the Securities and Exchange Commission (“SEC”) brings enforcement actions for civil penalties, it must do so in the federal courts, as opposed to before...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Supreme Court Finds SEC’s In-House Adjudicative Proceedings Violated Seventh Amendment Right to Jury Trial

On June 27, 2024, the Supreme Court of the United States held that defendants in securities fraud cases brought by the U.S. Securities and Exchange Commission (SEC) are entitled to a jury trial under the Seventh Amendment—a...more

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