A divided U.S. appeals court handed the U.S. Securities and Exchange Commission a victory on Monday over how it appoints its in-house judges in a decision that could pave the way for the Supreme Court to resolve the matter.
In a 5-5 split, a panel of 10 judges for the U.S. Court of Appeals for the District of Columbia Circuit effectively rejected a legal challenge by former radio talk show host Raymond Lucia, who had asked the court to review whether the SEC violated the U.S. Constitution when it appointed its administrative law judges.
‘Enforcement 40’ for 2020
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