The SEC’s in-house administrative adjudications docket

As we eagerly await a decision by The Supreme Court of the United States in the Jarkesy case, the U.S. Securities and Exchange Commission just released this latest edition of its twice-yearly report on the status of the agency’s in-house administrative adjudications docket. The report conclusively refutes those fearmongers who insist the sky will fall if the Court affirms the Fifth Circuit’s dismissal of the SEC’s charges against Mr. Jarkesy.

According to the report, the SEC’s three remaining ALJs collectively have only two(!) cases pending before them (down from the more than 75 cases pending before seven ALJs less than 10 years ago, pre-Lucia). Presumably, at least one of the current ALJs has literally no work to do anymore (most likely the new chief ALJ, hired last December for reasons entirely unclear). Collectively, the SEC’s ALJs have decided a grand total of three cases over the past two years (down from the many dozens they collectively decided each year during the years leading up to the Lucia decision).

Source: The SEC’s in-house administrative adjudications docket