The US Supreme Court is turning its anti-regulatory campaign toward the federal agencies that are scrutinizing Wall Street banks and seeking to break up Meta Platforms Inc., taking up cases that could defang two powerful market regulators.
The justices on Monday will consider whether those facing complaints from the Securities and Exchange Commission or the Federal Trade Commission can go straight to federal court with constitutional challenges to their cases. Most lower courts have said those challenges must wait for an in-house process that can take years — and arguably give the agency an unfair advantage.
A ruling against the government could undercut two of the most potent federal regulators. The SEC filed more than 700 enforcement actions in the last fiscal year and won judgments and orders worth $6.4 billion, including from investment banks.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn