U.S. Supreme Court To Weigh In On Constitutionality Of SEC Judges
Mealey's (January 12, 2018, 3:49 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Jan. 12 agreed to hear an appeal of a District of Columbia Circuit U.S. Court of Appeals ruling that Securities and Exchange Commission administrative law judges (ALJs) are constitutional officers pursuant to the appointments clause of the U.S. Constitution (Raymond J. Lucia, et al. v. Securities and Exchange Commission, No. 17-130, U.S. Sup.).
The SEC executed cease-and-desist proceedings against Raymond J. Lucia and Raymond J. Lucia Cos. Inc. (RJLC) pursuant to Section 15(b) of the Securities Exchange Act...