Supreme Court Case Threatens SEC's In-House Powers and Government Stability
The Supreme Court is set to hear arguments in Securities and Exchange Commission v. Jarkesy, a case that could have far-reaching consequences for federal agencies. The case challenges the constitutionality of the SEC's decision to bar hedge fund manager George Jarkesy from certain parts of the investment business and impose penalties on him. If the lower court ruling is upheld, it could effectively eliminate agency proceedings and limit the ability of agencies to seek monetary relief. The case also questions the delegation of legislative power to federal agencies and the protection of administrative law judges from being fired without cause. The Supreme Court's decision will have significant implications for the future of agency adjudications and regulatory power.