On June 27, 2024, the Supreme Court issued its decision in SEC v. Jarkesy, holding that the Seventh Amendment right to a jury trial applies to enforcement actions seeking civil penalties for alleged violations of the...more
7/1/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Constitutional Challenges ,
Enforcement Actions ,
Jury Trial ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Seventh Amendment
For U.S. Securities and Exchange Commission enforcement practitioners, perhaps the blockbuster decision of the last U.S. Supreme Court term was Kokesh v. SEC — but not for the reason that you might suspect. In Kokesh, the...more
In recent years, the U.S. Department of Justice has stepped up its use of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to pursue civil enforcement actions against financial institutions and their...more
This is the last of four articles examining the scope of the Seventh Amendment jury trial right as applied to the facts that set the maximum monetary penalty a judge may impose against a civil defendant in a U.S. Securities...more
7/26/2016
/ Civil Monetary Penalty ,
Deceptive Intent ,
Enforcement Actions ,
Fraud ,
Jury Instructions ,
Negligence ,
Recklessness ,
Right to a Jury ,
Rule 10b-5 ,
Scienter ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Violations ,
Seventh Amendment ,
Strict Liability
This is the third of four articles examining the scope of the Seventh Amendment jury trial right for civil defendants in U.S. Securities and Exchange Commission enforcement actions. Our first article explained why the Seventh...more
7/19/2016
/ Causation ,
Detrimental Reliance ,
Enforcement Actions ,
Enhanced Penalties ,
Jury Instructions ,
Loss Causation ,
Penalties ,
Recklessness ,
Right to a Jury ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Seventh Amendment
This is the second of four articles examining the scope of the Seventh Amendment jury trial right for civil defendants in U.S. Securities and Exchange Commission enforcement actions. The previous article explained why the...more
7/14/2016
/ Administrative Proceedings ,
Civil Monetary Penalty ,
Due Process ,
Enforcement Actions ,
Jury Instructions ,
Right to a Jury ,
Rule of Lenity ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Securities Violations ,
Seventh Amendment ,
Sixth Amendment
It has been settled law for some time now that the Seventh Amendment right to a jury trial in U.S. Securities and Exchange Commission enforcement actions extends to liability determinations. Unsettled is the question of...more