Q4 – 2025 FMG Professional Liability Quarterly Report

A summary of the important professional liability topics by our expert team members for the fourth quarter.

When the Supreme Court decided Sec. & Exch. Comm’n v. Jarkesy, 603 U.S. 109 (2024) last summer —holding that the SEC could not impose civil penalties without giving respondents the option of defending themselves before a jury in federal court —we predicted Jarkesy’s analysis would be invoked by practitioners in defending enforcement actions brought by other agencies. We were right. The Public Company Accounting Oversight Board (“PCAOB”) is now in the spotlight.

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Freeman Mathis & Gary
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