The case represents, as Justice Sonia Sotomayor warned in dissent, an unconstitutional “power grab” by the federal judiciary.
On Thursday morning, the Supreme Court handed down a case that poses an existential threat to federal regulatory agencies’ ability to do their work in an efficient and effective fashion. In, the six-justice conservative supermajority ruled that when the Securities and Exchange Commission seeks civil penalties against a defendant for securities fraud, the Seventh Amendment entitles that defendant to a jury trial in federal court.
I think it’s important to note that Congress gave the SEC this power in the Dodd–Frank Act after the Great Recession, because the previous system wasn’t working to Congress’ satisfaction. When you have to go to federal court and adjudicate every single civil penalty before a jury, that takes way more time and resources and personnel than doing it before an administrative law judge. Personnel and resources that these agencies just don’t have.
Supreme-Court Opinionpalooza-2024 Sonia-Sotomayor Judiciary
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