Supreme Court's Potential Impact on SEC and Financial Fraud Watchdog Powers
The conservative justices of the U.S. Supreme Court expressed skepticism towards the Securities and Exchange Commission's (SEC) in-house enforcement proceedings, which aim to maintain the integrity of securities markets. The case brought by George Jarkesy challenges the SEC's actions, arguing that he should have had a trial in federal court with a jury. The justices focused on the contention that the SEC's fact-finding process violated Jarkesy's Seventh Amendment right to a jury trial. The case is part of a broader effort to dismantle what some conservatives call "the administrative state."