Checks and Balances in Action: The Judiciary Increases its Constitutional Scrutiny of Certain ALJ Proceedings
Historically, the SEC could only bring enforcement actions in Article III courts.1 That began to change in 1990 with the Securities Enforcement Remedies and Penny Stock Reform Act, which allowed the agency to bring certain actions in administrative tribunals.2 The Dodd-Frank Act of 2010 gave the SEC the full ability to use administrative tribunals; by…
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