• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Securities-Docket-Leaderboard_9Sec
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2008 / November / 11 / Aguirre: ALJ “Not Acting as a Judge,” Disciplinary Rulings Outside Her Jurisdiction

Aguirre: ALJ “Not Acting as a Judge,” Disciplinary Rulings Outside Her Jurisdiction

By Securities Docket on November 11, 2008, 6:10 am

The New York Times had an interesting angle on the decision of the ALJ on Friday to reject disciplinary recommendations of the SEC’s Inspector General (previously discussed here): Is it appropriate for an ALJ employed by the SEC to make the disciplinary decision in cases such as Bear Stearns and Pequot/Aguirre?

Mr. Aguirre told the NY Times that ALJ Brenda Murray “had no business writing the report, because it was outside her jurisdiction as an administrative law judge. The job of writing the report, Mr. Aguirre said, was given to Ms. Murray to create a false impression.”  “The S.E.C. has spun this as if Murray was acting as a judge,” Mr. Aguirre said. “She was not.”

The NY Times article added that

Lewis D. Lowenfels, an authority on securities law at Tolins & Lowenfels, said that while he was unfamiliar with the specifics of the Pequot investigation, he objected to any federal agency that merged “the functions of prosecutor, judge, jury and appellate tribunal” under the same roof.

“Many states have an independent corps of administrative law judges who are not employed by any particular regulatory agency,” Mr. Lowenfels said.

Read the NY Times article

Blog Widget by LinkWithin

Posted in SEC | Tagged Features, Inspector General

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.