Supreme Court limits SEC's powers to impose fines

The U.S. Supreme Court, heading into the final stretch of the term, issued a raft of new and consequential decisions Thursday, on everything from opioids to ozone pollution.in Idaho in cases where the woman’s health, but not her life, is in grave jeopardy; and finally, the conservative supermajority continued its march to curtail agency power, ruling that Congress exceeded its power when it authorized the Securities and Exchange Commission to impose fines on financial wrongdoers.

“Make no mistake,” she said."Today’s decision is a power grab. Once again the majority arrogates Congress’s policymaking role to itself,” And in so doing, she said, the court had cast a cloud of doubt over the way dozens of agencies carry out their congressional mandates. Congress, she said, “had no reason to anticipate the chaos today’s majority would unleash after all these years.”

The SEC case was brought by George Jarkesy, a former conservative radio talk show host and hedge fund manager, who was supported in the case by a who’s who of conservative and business groups, plus some individuals like Elon Musk, who has repeatedly resisted the SEC’s attempts to probe whether he illegally manipulated his company’s stock.

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