Breaking: SEC Powers Weakened By Supreme Court, Stripped Of In-House Fraud Legal Proceedings
The United States Supreme Court dealt the Securities and Exchange Commission (SEC) a massive blow regarding securities law enforcement Thursday in a new ruling that sees the federal regulator stripped of its controversial appointment of in-house judges during fraud proceedings.
Supreme Court Votes To Change SEC Legal Proceedings In Fraud Cases
In a 6-3 vote, the nation’s highest court voted in agreement with hedge fund manager George Jarkesy after the SEC claimed that he defrauded investors in 2013.
In Associate Justice Neil Gorsuch’s concurring opinion , the former appeals judge noted that even “the least popular among us” should be able to “resolve his case under procedures designed to ensure a fair trial in a fair forum.”
The ruling significantly cripples the SEC’s enforcement powers when it comes to securities law as fraud defendants will now be granted a trial by jury in federal court in lieu of the SEC’s judicial process.
Editorial note: This story is currently being added to. For the full story check back soon as we add more information and/or perspectives from those involved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is the Crypto Market in for Another Bitcoin Price Correction?
Elon Musk’s D.O.G.E could crash the US stock market
Share link:In this post: Elon Musk’s new plan, D.O.G.E, wants to cut $500 billion in government spending and is already making big companies nervous. Defense giants like Lockheed and Boeing, plus pharma companies like Pfizer, might lose billions if DOGE cuts contracts. Dogecoin exploded 150% after the D.O.G.E announcement, proving anything Elon touches sends crypto traders into a frenzy.
Top 3 Solana-Based Altcoins to Surge 15,000% Before Year-End — Get In Before the Bull Run Takes Off in Full Power!
JasmyCoin’s Breakout Hints at Massive Gains: Analysts Predict Bullish Run