The US Supreme Court ruled that individuals accused of securities fraud by the SEC have the right to a jury trial.
The US Supreme Court, in a 6-3 decision, ruled that individuals accused of securities fraud by the Securities and Exchange Commission (SEC) have the right to a jury trial in federal court, stripping the SEC of a primary enforcement tool. The ruling has implications for other regulatory agencies and could affect the SEC's $5B in civil penalties awarded in 2023. The SEC had already reduced the number of cases pursued via administrative proceedings ahead of the Supreme Court's decision.
June 27, 2024
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