Articles

Jimmy Fokas, Lauren Berglin Author Article Reviewing Circuit Split over SEC Administrative Law Judges

Articles / May 17, 2017

Partner Jimmy Fokas and Associate Lauren Berglin authored an article published May 1, 2017, in Bloomberg Law’s “Securities Regulation & Law Report.” The article, “Bandimere v. SEC: Tenth Circuit Splits with D.C. Circuit on SEC Administrative Law Judges,” reviews the Dec. 27, 2016, decision in the Tenth Circuit that the Securities and Exchange Commission’s appointment of Administrative Law Judges (ALJs) is a violation of the Appointments Clause of the Constitution. This decision stands in opposition to the D.C. Circuit’s contrary decision earlier in 2016. Fokas and Berglin analyze these decisions and note:  


“It is plain that the Supreme Court will have to weigh in to resolve the split between the circuits, if the D.C. Circuit does not alter its holding. Even if the D.C. Circuit reverses itself and agrees with the Tenth Circuit, the far-reaching implications of such a decision may still warrant Supreme Court review to cure any doubt over the legality of the SEC’s administrative process.”

Read the article.