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News
June 29, 2015

Expanded Use of In-House Courts Brings Criticism From SEC Alumni

As the Securities and Exchange Commission (SEC) defends itself against a flurry of recent legal challenges to its growing reliance upon administrative-law judges, former high-powered agency insiders are calling for a “do-over.”

At issue in particular is the agency’s unprecedented filing of highly complex cases in its in-house court system since Andrew J. Ceresney, the SEC’s enforcement director, announced two years ago that it planned to bring more regulatory lawsuits before in-house judges.

“It is hard to find a better example of what is sometimes disparagingly called ‘administrative creep’ than this expansion of the SEC’s internal enforcement power,” said United States District Court Judge Jed S. Rakoff.

Read the full story here.

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