(January 3, 2020, 9:31 AM EST) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Dec. 19 ruled that the Securities and Exchange Commission did not err in denying a broker-dealer’s application to remove bar provisions of a consent order because the SEC’s denial was not “‘arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with the law’” (Brett Thomas Graham v. United States Securities and Exchange Commission, No. 18-3386, 2nd Cir., 2019 U.S. App. LEXIS 38058)....