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SEC Looks To Gain Home Court Advantage

Law360, New York (May 2, 2011, 8:23 PM EDT) -- Armed with new powers under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the U.S. Securities and Exchange Commission is looking to bring more enforcement actions through administrative proceedings, but questions over whether such out-of-court proceedings are legal could torpedo the plan, attorneys said.

Speaking at a legal forum Friday, George Canellos, director of the SEC's New York office, said his agency should consider using administrative proceedings more often, arguing that they offer several key advantages over typical civil cases, from a streamlined process and...
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