NCLA: NCLA Amicus Brief Decries SEC’s Administrative Denial of Jury Trial Rights, ALJ Removal Protections. “In 2010, the Dodd-Frank Act unconstitutionally transferred judicial power to SEC by empowering the agency’s ALJs to adjudicate SEC enforcement cases against Americans like Mr. Jarkesy for alleged securities law violations. The Constitution’s text places judicial power only in federal courts. So, SEC’s in-house adjudication scheme violates constitutional separation of powers.”

Reminder/disclosure: I’m on the NCLA’s advisory board.