The Supreme Court says the Securities and Exchange Commission has been violating the constitutional rights of people accused of securities fraud. The justices ruled that people accused by the SEC of fraud have the right to a jury trial in federal court. In a 6-3 decision, the court says the in-house proceedings the SEC has […]
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SCOTUS: SEC Must Allow Trials For Those Accused Of Securities Fraud
The Supreme Court says the Securities and Exchange Commission has been violating the constitutional rights of people accused of securities fraud. The justices ruled that people accused by the SEC of fraud have the right to a jury trial in federal court. In a 6-3 decision, the court says the in-house proceedings the SEC has used in some civil fraud complaints violate the Constitution. The justices ruled in the case of a Houston hedge fund manager. The case is among several this term in which conservative and business interests are urging the court to rein in federal regulators.