Oral Argument: SEC v. Jarkesy | Case No. 22-859 | Date Argued: 11/29/23 | Date Decided: 6/27/24
The High Court Report · SCOTUS Oral Arguments
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Show Notes
Oral Argument: SEC v. Jarkesy | Case No. 22-859 | Date Argued: 11/29/23 | Date Decided: 6/27/24
Link to Docket: Here.
Questions Presented:
- Whether statutory provisions that empower the Securities and Exchange Commission (SEC) to initiate and adjudicate administrative enforcement proceedings seeking civil penalties violate the Seventh Amendment.
- Whether statutory provisions that authorize the SEC to choose to enforce the securities laws through an agency adjudication instead of filing a district court action violate the nondelegation doctrine.
- Whether Congress violated Article II by granting for-cause removal protection to administrative law judges in agencies whose heads enjoy for-cause removal protection.
Holding: When the Securities and Exchange Commission seeks civil penalties against a defendant for securities fraud, the Seventh Amendment entitles the defendant to a jury trial.
Result: Affirmed and remanded.
Voting Breakdown: 6-3. Chief Justice Roberts delivered the opinion of the Court, in which Justices Thomas, Alito, Gorsuch, Kavanaugh, and Barrett joined. Justice Gorsuch filed a concurring opinion, in which Justice Thomas joined. Justice Sotomayor filed a dissenting opinion, in which Justices Kagan and Jackson joined.
Link to Opinion: Here.
Oral Advocates:
- For Petitioner: Brian H. Fletcher, Principal Deputy Solicitor General, Department of Justice, Washington, D.C.
- For Respondents: S. Michael McColloch, Dallas, Tex.