A conservative attack on government regulation reaches the Supreme Court
U.S. Supreme Court News
The Supreme Court is hearing arguments in a challenge to the Securities and Exchange Commission’s ability to fight fraud, part of a broad attack on regulatory agencies led by conservative and business interests.
The case before the justices Wednesday involves the Biden administration’s appeal of a lower-court ruling that threw out stiff financial penalties imposed on hedge fund manager George R. Jarkesy by the SEC.
The high court’s decision could have far-reaching effects on the SEC and other regulatory agencies, and it’s just one of several cases this term that could constrict federal regulators. The court’s conservative majority has already reined them in, including in last May’s decision sharply limiting their ability to police water pollution in wetlands.
Last year, a divided panel of the New Orleans-based 5th U.S. Circuit Court of Appeals ruled in favor of Jarkesy and his Patriot28 investment adviser group on three separate issues.
It found that the SEC’s case against him, resulting in a $300,000 civil fine and the repayment of $680,000 in allegedly ill-gotten gains, should have been heard in a federal court instead of before one of the SEC’s administrative law judges.
The panel also said Congress unconstitutionally granted the SEC “unfettered authority” to decide whether the case should be tried in a court of law or handled within the executive branch agency. And it said laws shielding the commission’s administrative law judges from being fired by the president are unconstitutional.
Judge Jennifer Walker Elrod wrote the appellate opinion, joined by Judge Andrew Oldham. Elrod was appointed by former President George W. Bush, and Oldham by former President Donald Trump.
Judge Eugene Davis, a nominee of former President Ronald Reagan, dissented.
Related listings
-
Sen. Menendez enters not guilty plea to a new conspiracy charge
U.S. Supreme Court News 10/30/2023U.S. Sen. Bob Menendez returned to Manhattan federal court Monday to challenge a new criminal charge alleging that he conspired to act as an agent of the Egyptian government when he chaired the Senate Foreign Relations Committee.“Not guilty,&rd...
-
3M agrees to pay $6 billion to settle earplug lawsuits
U.S. Supreme Court News 08/31/2023Chemical and consumer product manufacturer 3M has agreed to pay $6 billion to settle numerous lawsuits from U.S. service members who say they experienced hearing loss or other serious injuries after using faulty earplugs made by the company.The settl...
-
Some states reject federal money to find and replace dangerous lead pipes
U.S. Supreme Court News 08/20/2023As the Biden administration makes billions of dollars available to remove millions of dangerous lead pipes that can contaminate drinking water and damage brain development in children, some states are turning down funds.Washington, Oregon, Maine and ...
Our Eugene Oregon Bankruptcy Practice
Since 2005, Erin Uhlemann has helped individuals and families facing financial difficulties file for bankruptcy relief. Erin's compassion and understanding of the law have helped hundreds of Oregonians achieve a financial fresh start. She started Willamette Valley Bankruptcy to focus on helping clients with bankruptcy and debt issues in the Lane County Area. Erin understands that choosing a bankruptcy attorney who makes you feel comfortable and confident can be as difficult as deciding whether to file a bankruptcy case. Because she knows that filing bankruptcy is not something that you planned to do or look forward to doing, Erin strives to make the process as easy as possible.
Because most people facing bankruptcy do not have extra money to pay fees, Willamette Valley Bankruptcy offers low upfront fees and will work with you to set up affordable payment plans to pay attorney fees and court filing fees. Consultations are always free so that you can get the answers you need before making any sort of financial commitment. If you have questions about attorney fees and payment plans, you can call or email today to get these questions answered.