Panel Sets Aside SEC ALJ Ruling Based On High Court’s Lucia Ruling

Mealey's (September 21, 2018, 9:01 AM EDT) -- WASHINGTON, D.C. — In a one-page per curiam order, a District of Columbia Circuit U.S. Court of Appeals panel on Sept. 19 set aside a Securities and Exchange Commission order against co-managers of an investment fund for violations of federal securities laws and remanded the action to the SEC for a new hearing before either another administrative law judge (ALJ) or before the SEC itself in accordance with the U.S. Supreme Court’s recent ruling in Lucia v. SEC (Mohammed Riad, et al. v. Securities and Exchange Commission, No. 16-1275, D.C. Cir., 2018 U.S. App. LEXIS 26710)....