Investment Adviser Takes SEC ALJ Separation Of Powers Suit To U.S. Supreme Court

Mealey's (September 2, 2020, 2:23 PM EDT) -- WASHINGTON, D.C. — U.S. Supreme Court review of an 11th Circuit U.S. Court of Appeals' ruling upholding a federal district court's dismissal of an investment adviser's lawsuit against the Securities and Exchange Commission and others challenging the constitutionality of the SEC's in-house enforcement proceedings is warranted because the "multilayered protection" given to the SEC's administrative law judges (ALJs) violates the separation of powers provision of the U.S. Constitution, the investment adviser argues in an Aug. 31 petition for writ of certiorari filed in the Supreme Court (Christopher M. Gibson v. Securities and Exchange Commission, et al., U.S. Sup., No. N/A)....