After much anticipation, the U.S. Supreme Court ruled on the constitutionality of the Securities and Exchange Commission’s (SEC or Commission) Administrative Law Judges (ALJs)....more
The new executive order (EO) granting agency chiefs the power to hire administrative law judges (ALJs) according to their own standards—and eliminating the exam and competitive hiring process formerly in place—could turn the...more
In one of its last opinions of the term, the U.S. Supreme Court held in Lucia v. U.S. Securities and Exchange Commission (SEC) on June 21, 2018, that administrative law judges (ALJs) are officers of the United States, not...more
Orrick's Andrew Morris and Ben Aiken co-authored an article for Law360 in which they identify three of the most significant defense arguments for respondents in SEC administrative actions in light of the Supreme Court's...more
In April, the U.S. Supreme Court heard oral argument in Lucia v. SEC to resolve the federal circuit court split on whether the SEC’s administrative law judges (ALJs) are "inferior officers" of the United States who must be...more
On June 21, 2018, the United States Supreme Court resolved a circuit split on the question of whether administrative law judges (“ALJs”) of the Securities and Exchange Commission (the “SEC” or the “Commission”) qualify as...more
In its June 21 decision in Lucia v. Securities & Exchange Commission, the U.S. Supreme Court ruled that administrative law judges (ALJs) used by the SEC are “Officers of the United States” under the Appointments Clause in...more
On June 21, 2018 the U.S. Supreme Court ruled in Lucia et al. v. Securities and Exchange Commission, [1] that the appointment of certain administrative law judges (“ALJs”) was unconstitutional, and that those with matters...more
On June 21, 2018, the Supreme Court in Raymond J. Lucia, et al. v. SEC, held that the SEC’s administrative law judges are “Officers of the United States” whose appointment must comport with the requirements of the...more
On June 21, 2018, the Supreme Court of the United States invalidated the process that the Securities and Exchange Commission ("SEC") had been using to appoint administrative law judges. Staff from the SEC had selected...more
The U.S. Supreme Court recently held, in Lucia v. SEC,1 that Administrative Law Judges (ALJs) for the U.S. Securities and Exchange Commission (SEC or Commission) are officers of the United States who must be appointed...more
In Lucia v. U.S. Securities and Exchange Commission, Justice Elena Kagan, writing for a six-justice majority, presents the U.S. Supreme Court’s decision as both narrow and uncomplicated. “The sole question” the court chose to...more
Many cases involving federal regulatory law are largely decided by judges appointed by the staffs of federal agencies—administrative law judges (ALJs). In a case closely watched for its securities and white-collar crime...more
• SEC ALJs are “Officers of the United States” within the meaning of the Appointments Clause and therefore must be appointed directly by the SEC. The Court’s decision may permit litigants in prior and pending administrative...more
On June 21, in Lucia v. Securities and Exchange Commission, the US Supreme Court held that administrative law judges of the US Securities and Exchange Commission are not mere federal employees but qualify as “Officers of the...more