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Again Curbing Regulatory Agencies, Supreme Court Rejects S.E.C.’s Tribunals [1]
['Charlie Savage', 'Adam Liptak']
Date: 2024-06-27
The Supreme Court on Thursday rejected one of the primary ways the Securities and Exchange Commission enforces rules against securities fraud, likely also making it harder for other regulatory agencies to bring enforcement actions.
The S.E.C., like other regulators, sometimes enforces its regulations and imposes penalties using in-house tribunals without juries rather than federal courts. Chief Justice John G. Roberts Jr., writing for a six-justice conservative majority, said that practice violated the Seventh Amendment right to a jury trial.
“A defendant facing a fraud suit has the right to be tried by a jury of his peers before a neutral adjudicator,” the chief justice wrote.
The decision in the case divided along ideological lines. Justice Sonia Sotomayor, joined by Justices Elena Kagan and Ketanji Brown Jackson, dissented, accusing the majority of upending “longstanding precedent” to cut back on the authority of administrative agencies.
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[1] Url:
https://www.nytimes.com/2024/06/27/us/politics/supreme-court-sec-tribunal.html
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