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'Big Short' Money Manager Lobs New Claims Over SEC Courts

Law360, New York (April 2, 2015, 5:40 PM EDT) -- An investment adviser sued by the U.S. Securities and Exchange Commission after his depiction in Michael Lewis’ “The Big Short” on Wednesday told the commission that an in-house judge lacked the constitutional authority to impose a $3 million sanction, in the latest rebuke of the SEC’s administrative proceedings.

Wing Chau and his firm, Harding Advisory LLC, are appealing to the full commission the sanction and industry bar an administrative law judge handed down over his alleged misconduct in assembling structured products just before the financial crisis....
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