Unconstitutionally Appointed Administrative Law Judges Continue to Haunt SEC
Are Securities and Exchange Commission (SEC) administrative enforcement proceedings constitutional? According to a recent, well-reasoned opinion issued by the US Court of Appeals for the Tenth Circuit, Bandimere v. SEC, 844 F.3d 1168 (10th Cir. 2016), the answer is no. Bandimere focuses on SEC Administrative Law Judges (ALJs), who preside over in-house, trial-type proceedings […]
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