Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Rep. Garrett 'distressed' by SEC's faith in AP process

Bruce Carton | February 24, 2016

At the annual SEC Speaks conference last week, Matthew Solomon, Chief Litigation Counsel in the Division of Enforcement, said pretty much exactly what you would expect someone in his position to say in response to criticism of the SEC's use of administrative proceedings in order to supposedly gain a “home court advantage.”

Solomon flatly refuted the notion that the SEC was in any way "shying away from federal court” in favor of APs. He pointed out that, in fact, the agency had an extraordinarily busy year in federal court, going undefeated in 27 federal court trials in its FY 2015 (while actually losing in two APs). He also stated that despite recent constitutional challenges, APs “play a crucial role in our enforcement program and will continue to [ ] in the years to come.” To date, the two appellate courts that have considered constitutional...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.