The SEC’s ALJs: Channeling the Appointments Clause

The SEC’s ability to conduct administrative proceedings instead of or in addition to bringing civil actions in federal court has come under attack as the Commission uses its Dodd-Frank Act powers to impose civil penalties against unregistered persons.

In the latest briefing from Wolters Kluwer Legal & Regulatory Solutions U.S., Mark S. Nelson, J.D. examines the ferocity with which a small but growing number of respondents in SEC administrative proceedings have chosen to take on the agency in federal courts. According to the challengers, the Supreme Court’s Free Enterprise decision means game over for the SEC’s ALJs. The briefing covers:

• Channel Stuffing?
• Getting to the Merits
• Claims of ALJ bias
• An Elegant Remedy?
• What’s Next?

Download the briefing now.