During oral arguments on Wednesday, the U.S. Supreme Court’s six conservative justices questioned the constitutionality of the Securities and Exchange Commission’s ability to take enforcement actions outside of the court system in a case that could have sweeping consequences for the power of federal agencies to enforce the law.
In SEC v. Jarkesy, the financial regulatory agency had charged conservative radio host George Jarkesy Jr. with securities fraud for allegedly misrepresenting and inflating the assets in two investment funds he ran. After an internal judicial proceeding, the SEC found Jarkesy guilty and fined him $300,000 in 2013. In response, Jarkesy brought suit against the agency, challenging not only the fine but also the SEC’s right to even conduct an administrative judicial process in the first place.
For more on this story, please visit huffpost.com.