In a significant ruling, the U.S. Supreme Court has curtailed the Securities and Exchange Commission’s (SEC) reliance on its in-house administrative law judges. On Thursday, the Court declared that individuals accused by the SEC have a constitutional right to a jury trial when facing financial penalties. This decision could potentially limit the SEC’s procedural autonomy in pursuing enforcement actions through its internal adjudication system.
For more information, you can read the full details of the ruling here.