US Supreme Court To Rule On Legality Of Dodd-Franks’ Courts At SEC
Hopefully this will never affect anyone here.
The US Congress empowered the SEC (Securities and Exchange Commission) to use its own in-house administrative law judges (ALJs) to try cases brought by agency enforcement when it passed the Dodd-Frank Act] following the 2008 financial crisis.
The Supreme Court will consider next week whether this violates the right to a jury trial guaranteed in the Seventh Amendment. The 5th Circuit Court of Appeals said that it does.
According to the article,
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“At the time of Jarkesy’s ‘trial’ in 2014, the agency had, over the last 200 contested cases, compiled an in-house win rate of exactly 100%, contrasted with a less pristine 61% success rate over the same time period in Article III courts, where juries are employed,” the brief states.
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