Bombshell Or Bust: Justices Debate Fallout Of Potential Ruling in SEC Case
"The extent of impact of government agencies on daily life today is enormously more significant than it was 50 years ago," said Chief Justice John Roberts Jr.
November 30, 2023 at 06:45 AM
5 minute read
United States Supreme CourtWelcome to this edition of Supreme Court Brief. The high court wrapped up the first week of oral arguments of the November-December session Wednesday with a hearing in the administrative law case SEC v. Jarkesy. Now, just three cases stand between the justices and their winter recess.
The court's hearing in Jarkesy lasted for over two hours Wednesday, despite featuring only two arguing attorneys, and despite the justices effectively ignoring two of the three issues upon which they granted certiorari, or review.
Instead, Wednesday's argument dealt exclusively with the question of whether the Seventh Amendment bars the SEC from seeking civil penalties through its in-house enforcement regime. As part of the discussion, the justices grappled with esoteric doctrines about public rights v. private rights, a 1977 Supreme Court precedent, the state of common law fraud claims in 1791, and more.
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