A federal appeals court on Monday handed the U.S. Securities and Exchange Commission a victory in its use of in-house enforcement proceedings, rejecting a challenge by a former chief executive of Assisted Living Concepts Inc.
The 7th U.S. Circuit Court of Appeals in Chicago agreed with U.S. District Judge Rudolph Randa in Milwaukee that it lacked jurisdiction to hear former CEO Laurie Bebo’s constitutional challenge to the SEC administrative case against her until the regulator’s proceedings have concluded.
via U.S. appeals court backs SEC in-house enforcement cases | Reuters
