News & Analysis as of

Securities Fraud Article II Constitutional Challenges

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

Ballard Spahr LLP

SCOTUS to hear oral argument on Nov. 29 in case involving challenge to use of administrative law judges by federal agencies

Ballard Spahr LLP on

On November 29, 2023, the U.S. Supreme Court will hear oral argument in Jarkesy v. Securities and Exchange Commission, a case in which the respondents are challenging the constitutionality of the SEC’s use of administrative...more

Robinson & Cole LLP

Fifth Circuit Decision Threatens to Upend SEC’s Use of Administrative Proceedings

Robinson & Cole LLP on

In a landmark decision, the Fifth Circuit struck down the U.S. Securities and Exchange Commission’s (SEC) primary mechanism for enforcing the nation’s securities laws. In Jarkesy v. Securities and Exchange Commission, a...more

Jenner & Block

Fifth Circuit Holds SEC's In-House Forum is Unconstitutional

Jenner & Block on

When Congress passed the Dodd-Frank Act, it expanded the SEC’s power to use its in-house administrative forum to bring enforcement actions. Supporters said this change promoted investor protection by giving the SEC a more...more

Dechert LLP

Showdown at the Fifth Circuit Corral—Panel Rules SEC Home-Court Proceedings Violate Multiple Constitutional Provisions

Dechert LLP on

The United States Court of Appeals for the Fifth Circuit issued a major decision on May 18, 2022 holding Securities and Exchange Commission (SEC or Commission) administrative adjudications unconstitutional on multiple...more

Proskauer - Corporate Defense and Disputes

Fifth Circuit Holds SEC’s In-House Courts and Judges Unconstitutional

In Jarkesy v. Securities and Exchange Commission, the Court of Appeals for the Fifth Circuit issued a remarkable opinion holding numerous aspects of the SEC’s administrative enforcement regime are unconstitutional. The May...more

Cadwalader, Wickersham & Taft LLP

2016 Year In Review: Securities Litigation And Regulation

2016 was an active year in securities litigation. In the first half of 2016 alone, plaintiffs filed 119 new federal class action securities cases. It was also a busy year for SEC enforcement proceedings, with a record 868...more

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