Supreme Court Holds Appointment of SEC’s In-House Judges Unconstitutional
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Key takeaways:
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On June 21, 2018, the Supreme Court held that the appointment of the SEC’s Administrative Law Judges by members of the Commission’s staff, rather than by the Commission itself, violates the Appointments Clause of the United States Constitution.
- Immediately following the ruling, the Commission issued an order staying pending administrative proceedings for the next thirty days.
- It remains to be seen whether the ruling will significantly impact the Commission’s prior actions or future proceedings, as several related constitutional issues await further litigation.