First published at 05:31 UTC on May 25th, 2022.
Tenure of Office Act of 1867
The cases cited here are:
Liu v. Securities and Exchange Commission, 591 U.S. ___ (2020)
Jarkesy v. Securities and Exchange Commission (2022)
In Jarkesy v. Securities and Exchange Commission (2022), the Court of Appe…
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Tenure of Office Act of 1867
The cases cited here are:
Liu v. Securities and Exchange Commission, 591 U.S. ___ (2020)
Jarkesy v. Securities and Exchange Commission (2022)
In Jarkesy v. Securities and Exchange Commission (2022), the Court of Appeals for the Fifth Circuit held that (I) enforcement of Dodd Frank's civil penalties for securities fraud in the Securities and Exchanges Commission's administrative proceedings violated the Seventh Amendment's guarantee of a jury trial because fraud is not unknown to common law and is thus outside the scope of the Public Rights Doctrine; (II) Dodd Frank's broad grant of unfettered discretion to the SEC to choose between enforcing identical claims in either federal district court or its own administrative tribunal violated the Nondelegation Doctrine because (a) the assignment of claims to a non-Article III tribunal is an Article I power, and (b) Congress provided—as the SEC conceded—no intelligible principle to the SEC; (III) the dual for-cause removal protections of ALJs violated Article II's Take Care Clause.
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