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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-06-28T14:57:00
The Supreme Court of the United States (SCOTUS) ruled that the Securities and Exchange Commission’s (SEC) practice of using in-house tribunals overseen by an administrative judge to adjudicate securities fraud cases is unconstitutional.
In a 6-3 decision, issued Thursday, SCOTUS ordered the SEC to file complaints involving securities fraud in federal court. The ruling effectively strips away an alternative venue considered to be a home-court advantage by critics of the agency.
The court’s majority, led by Chief Justice John Roberts, wrote, “A defendant facing a fraud suit has the right to be tried by a jury of his peers before a neutral adjudicator.”
The minority opinion, written by Justice Sonia Sotomayor, argued the court was reversing longstanding precedent, cutting back on the authority of administrative agencies.
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Full price one year membership with auto-renewal.
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2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2023-11-21T21:13:00Z By Kyle Brasseur
Rio Tinto consented to pay a $28 million fine to resolve charges levied by the Securities and Exchange Commission alleging the mining company and its executives committed fraud by inflating the value of coal assets.
2023-09-28T17:45:00Z By Jeff Dale
Texas-based cybersecurity company Intrusion was charged with fraud by the Securities and Exchange Commission regarding alleged materially false and misleading statements made by its former chief executive.
2024-10-22T14:37:00Z By Aaron Nicodemus
The Department of Justice (DOJ) has proposed a new rule that would regulate the use of Americans’ personal information by foreign companies and foreign persons in six “countries of concern,” prohibiting and restricting the sale of data to thwart the use of data for cyber-enabled activities, espionage, coercion, influence and ...
2024-10-17T17:42:00Z By Adrianne Appel
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence (AI), and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
2024-10-17T16:22:00Z By Neil Hodge
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
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