The U.S. Supreme Court on Monday agreed to hear the Securities and Exchange Commission’s bid to block a challenge to the constitutionality of its in-house tribunal brought by a Texas accountant who the agency punished after faulting her audits of publicly traded companies.
The justices took up the SEC’s appeal of a lower court ruling that revived certified public accountant Michelle Cochran’s challenge. The lower court rejected the agency’s argument that under a U.S. law called the Securities Exchange Act Cochran could not contest the constitutionality of the tribunal’s judges in federal court before the end of the SEC’s administrative enforcement proceeding against her.
Source: U.S. Supreme Court to hear SEC bid to avoid challenge to in-house judges | Reuters
