Mintz’s Post

🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗹𝗶𝗺𝗶𝘁𝘀 𝗦𝗘𝗖 𝗲𝗻𝗳𝗼𝗿𝗰𝗲𝗺𝗲𝗻𝘁 𝗽𝗼𝘄𝗲𝗿 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 The US Supreme Court has thrown out the US Securities and Exchange Commission's (SEC) ability to use in-house proceedings to seek civil penalties for securities fraud, finding those cases must instead be brought before a jury trial in federal court. The Supreme Court, in a 6-3 ruling in the case SEC v Jarkesy, said continuing to adjudicate those cases internally would be a violation of the the Seventh Amendment of the US Constitution, which protects the right to a jury trial in some cases. The court's ruling marks a win for conservatives that have pushed to curtail the powers at the SEC and other federal agencies, which often rely on in-house administrative law judges (ALJs) to adjudicate enforcement cases that can be complicated and highly technical. By Chris Knight: https://okt.to/FaqnwJ #ArgusMedia #ArgusOil #OOTT

🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗹𝗶𝗺𝗶𝘁𝘀 𝗦𝗘𝗖 𝗲𝗻𝗳𝗼𝗿𝗰𝗲𝗺𝗲𝗻𝘁 𝗽𝗼𝘄𝗲𝗿 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 The US Supreme Court has thrown out the US Securities and Exchange Commission's (SEC) ability to use in-house proceedings to seek civil penalties for securities fraud, finding those cases must instead be brought before a jury trial in federal court. The Supreme Court, in a 6-3 ruling in the case SEC v Jarkesy, said continuing to adjudicate those cases internally would be a violation of the the Seventh Amendment of the US Constitution, which protects the right to a jury trial in some cases. The court's ruling marks a win for conservatives that have pushed to curtail the powers at the SEC and other federal agencies, which often rely on in-house administrative law judges (ALJs) to adjudicate enforcement cases that can be complicated and highly technical. By Chris Knight: https://okt.to/KzUHst #ArgusMedia #ArgusOil #OOTT

📣 Applauding SCOTUS for Upholding Constitutional Rights 📣 I commend the Supreme Court of the United States for its recent ruling in SEC v. Jarkesy, decided on June 23, 2024. This landmark decision reaffirms the importance of the Constitution’s right to a jury trial and the principles of separation of powers. The Court’s 6-3 ruling addresses critical issues: 1. Upholding the Seventh Amendment: The decision recognizes that the SEC’s use of in-house administrative law judges to decide certain fraud cases deprives defendants of their constitutional right to a jury trial. 2. Maintaining Constitutional Boundaries: By asserting that Congress cannot assign the adjudication of traditional private rights, such as fraud claims seeking civil penalties, to an administrative agency, the Court protects our fundamental constitutional framework. 3. Reshaping SEC Enforcement: This ruling will limit the SEC’s ability to bring enforcement actions through its in-house administrative court system, potentially requiring more cases to be filed in federal court. This shift is likely to enhance fairness and transparency in the adjudication process. This decision not only reshapes securities regulation and enforcement but also underscores the Court’s role in safeguarding our constitutional rights. Kudos to SCOTUS for making a significant impact on the future of administrative law and securities enforcement in the United States. 🇺🇸 #SupremeCourt #SEC #ConstitutionalRights #SeparationOfPowers #SecuritiesRegulation

Now the challenges to CFPB rulemakings will need to focus (more) on merit and rule technicalities than Bureau Constitutionality.

But I never signed it - did you ratify it, assent to it, or does equity suggest an enforeceable agreement? If you did, you may not have a defense to enforcement. I often hear from individuals and business about the enforcement of contracts, settlements, and the like. Two recent cases in Tennesssee’s appellate courts have provided guidance as to when a writing or signature or the like isn’t necessary to enforce what was otherwise an agreement. Links to the cases below. Long story short - if you have generally agreed in principle to do something, you should probably move forward with it. For more detail - check out: https://lnkd.in/e69kc4F4 https://lnkd.in/e8QRDqiJ

A great article by David Marusza. Prenuptial and postnuptial agreements are becoming more commonplace, people have a better understanding more generally of their financial positions within a relationship. #familylaw #HarcourtChambers #FinancialRemedy

Some great insights from my colleagues on the importance of the Jarkesy decision and what it could mean for the future of securities regulation.

The Supreme Court issued several blockbuster administrative-law cases in the final days of the Term. Here, we break down the Court's decision in SEC v. Jarkesy, which held that the Seventh Amendment provides a right to a jury trial--and thus requires the agency to bring suit in federal district court--when the SEC seeks monetary civil penalties for securities fraud. The case will have immediate effects for SEC securities-fraud enforcement matters. Indeed, its mere pendency has been having an effect on those matters since long before the Court handed down its ruling. But just as importantly, the Court's decision will spur continued litigation over the scope of the Seventh Amendment right in other agency enforcement contexts, as well as the rules of the road for such cases.

In a recently published Bloomberg Law article, #TeamSPB's Keith Bradley discusses the US Supreme Court's ruling in Securities and Exchange Commission v. Jarkesy which significantly shifts power from agencies to courts and foreshadows a revolution in the structure of federal enforcement in the coming decade. Read the full article here ➡️ https://ow.ly/TVz450SuGNn #BloombergLaw | #USSupremeCourt | #SECvJarkesy

This week, we at the New Civil Liberties Alliance filed a petition for a writ of mandamus asking the U.S. Court of Appeals for the Sixth Circuit to force the U.S. Securities and Exchange Commission to take action on our client's appeal from a 2020 FINRA disciplinary decision, which has been pending and fully briefed before the SEC commissioners for three full years and counting—in a case where the events in question date back to 2010! So much for the purported "efficiencies" of administrative adjudication. By simply refusing to decide our client's appeal (and at least a dozen other similar pending appeals), the SEC is effectively achieving and prolonging an indefinite FINRA suspension and blocking any subsequent appeal to a real, Article III court. As we explain in our petition, so much time has now passed without action that the court should order the SEC to either set aside FINRA's sanction or, at a minimum, get off the dime and decide the case already! Click here to read our press release and petition: https://lnkd.in/d2Dv7izY #secenforcement #finra #securitiesregulation #securitieslaw #finacialservices