The SEC's On a Long Winning Streak
As criticism mounts that its in-house forum is unfair, the U.S. Securities and Exchange Commission won every administrative case last year, according to an analysis by The National Law Journal.
January 19, 2015 at 06:12 AM
6 minute read
As criticism mounts that its in-house forum is unfair, the U.S. Securities and Exchange Commission won every administrative case last year, according to an analysis by The National Law Journal.
The winning streak, which began in October 2013 and continues today, spans 219 decisions by the agency's administrative law judges, although three-quarters of the victories were by default.
Other cases, however, were vigorously contested, including 14 that went to trial and more than a dozen decided on summary judgment. SEC lawyers came out on top in them all, winning millions of dollars in penalties and broadening the docket to include violations such as insider trading.
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