Supreme Court rejects how SEC attacks securities fraud

  • 📰 sltrib
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 61%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

The Supreme Court on Thursday rejected one of the primary ways the Securities and Exchange Commission enforces laws against securities fraud.

Such tribunals, common in executive agencies, hear enforcement actions without juries, a practice that challengers said violated the Constitution.

The agency, like other regulators, brings some enforcement actions in internal tribunals rather than in federal courts. The SEC’s practice, Chief Justice John Roberts wrote for a six-justice majority in a decision divided along ideological lines, violated the right to a jury trial. The case is one of several challenges this term to the power of administrative agencies, long a target of the conservative legal movement. The court last month rejected a challenge to the constitutionality of the way the Consumer Financial Protection Bureau is funded. In January, it heard arguments in a pair of challenges to the Chevron doctrine, a foundational principle of administrative law that requires judicial deference to agencies’ reasonable interpretations of ambiguous statutes.

Lawyers for the agency said juries were not required in administrative proceedings because they were not private lawsuits but part of an effort to protect the rights of the public generally. They added that agency adjudications without juries are commonplace, with two dozen agencies having the authority to impose penalties in administrative proceedings.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 316. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Supreme Court strips the SEC of a critical enforcement tool in fraud casesThe justices ruled in a 6-3 vote that people accused of fraud by the SEC, which regulates securities markets, have the right to a jury trial in federal court. The in-house proceedings the SEC has used in some civil fraud complaints violate the Constitution, the court said.
Source: FOX10News - 🏆 581. / 51 Read more »

The Supreme Court strips the SEC of a critical enforcement tool in fraud casesThe Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies.
Source: KPRC2 - 🏆 80. / 68 Read more »

Supreme Court strips SEC of key enforcement power to penalize fraudThe Supreme Court ruled 6-3 along ideological lines that defendants facing civil penalties for securities fraud are entitled to a jury trial.
Source: CBSHealth - 🏆 480. / 51 Read more »

The Supreme Court strips the SEC of a critical enforcement tool in fraud casesThe Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies.
Source: ksatnews - 🏆 442. / 53 Read more »

The Supreme Court strips the SEC of a critical enforcement tool in fraud casesThe Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies. The justices ruled Thursday in a 6-3 vote that people accused by the SEC of fraud have the right to a jury trial in federal court.
Source: AP - 🏆 728. / 51 Read more »

The Supreme Court strips the SEC of a critical enforcement tool in fraud casesThe Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies.
Source: wjxt4 - 🏆 246. / 63 Read more »