Lucia v. Sec
U.S. Supreme Court · decided June 21, 2018 · Supreme Court Database (Spaeth)
- Decided
- June 21, 2018
- Term
- October Term 2017
- Vote
- 7–2
- Majority author
- Justice Kagan
- Issue area
- Miscellaneous
- Disposition
- Reversed and remanded
- Outcome
- Petitioning party won
- Ideological direction
- Unspecifiable
Opinion excerpt
(Slip Opinion) OCTOBER TERM, 2017 1 Syllabus NOTE: Where it is feasible, a syllabus (headnote) will be released, as is being done in connection with this case, at the time the opinion is issued. The syllabus constitutes no part of the opinion of the Court but has been prepared by the Reporter of Decisions for the convenience of the reader. See United States v. Detroit Timber & Lumber Co., 200 U.S. 321 , 337. SUPREME COURT OF THE UNITED STATES Syllabus LUCIA ET AL. v. SECURITIES AND EXCHANGE COMMISSION CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT No. 17–130. Argued April 23, 2018—Decided June 21, 2018 The Securities and Exchange Commission (SEC or Commission) has statutory authority to enforce the nation’s securities laws. One way it can do so is by instituting an administrative proceeding against an alleged wrongdoer. Typically, the Commission delegates the task of presiding over such a proceeding to an administrative law judge (ALJ). The SEC currently has five ALJs. Other staff members, ra- ther than the Commission proper, selected them all. An ALJ as- signed to hear an SEC enforcement action has the “authority to do all things necessary and appropriate” to ensure a “fair and orderly” ad- versarial proceeding. 17 CFR §§201.111, 200.14(a). After a hearing ends, the ALJ issues an initial decision. The Commission can review that…
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