Unfortunately, the considerations outlined by the S.E.C. provide scant concrete information about which forum will decide the case. Indeed, the guidance may cause even greater consternation among defense lawyers who see the agency sending the toughest cases to its own judges to develop the law as it prefers rather than using federal district judges, who may be less amenable to its arguments.
Choosing the Battlefield in S.E.C. Cases – NYTimes.com
