The U.S. Supreme Court is set to hear oral argument on the constitutionality of administrative law courts within the Securities and Exchange Commission (SEC) on Nov. 29 — teeing up yet another opportunity this term for justices to review bureaucrats’ power.
SEC v. Jarkesy involves a hedge fund manager, George Jarkesy, whom the agency penalized for violating securities fraud law. More specifically, the SEC imposed a civil penalty of $300,000 on Mr. Jarkesy after bringing an administrative proceeding against him.
