Supreme Court Rules SEC In-House Penalty Proceedings Violate Seventh Amendment
Supreme Court Rules SEC In-House Penalty Proceedings Violate Seventh Amendment
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The Supreme Court ruled on Thursday that the U.S. Securities and Exchange Commission (SEC)’s use of in-house proceedings to impose civil penalties for securities fraud violates the Seventh Amendment’s right to a jury trial. The case arose from the SEC’s action against George Jarkesy Jr. and his firm, Patriot28 LLC, for alleged securities fraud. The […]
