Court Rulings on SEC’s In-house Courts May Accelerate Deregulatory Trend But Compliance Professionals Should Not be Complacent

Two recent federal appeals courts take opposite positions on the constitutionality of how the SEC hires its administrative law judges (ALJs), who administer the federal securities laws in its in-house courts. The D.C. Circuit found the process constitutional, while the 10th Circuit did not. Commentators note that, given this conflict and the importance of the issue for other federal…

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