Maybe civil rights and due process have a chance, after all. For years, we have been saying that what passes for justice inside the SEC is a mockery of the constitutional rights granted to U.S. citizens. Apparently, the federal judiciary is beginning to agree with us.
The U.S. Securities and Exchange Commission has suspended most of its in-house court cases in Colorado, Kansas, New Mexico, Oklahoma, Utah and Wyoming because a Denver-based federal appeals court found the agency had violated the constitution in how it hired its administrative law judges.
The SEC’s order comes after that same appeals court this month declined to reconsider the ruling that found the SEC’s hiring of its judges violated the constitution’s appointments clause.
This is a small victory, but we’ll take what we can get. We knew this was going to be a long fight.