We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Trader Brings ALJ Challenge To 2nd Circ. In Likely First

Law360, New York (April 18, 2017, 2:15 PM EDT) -- A former Barclays Capital Inc. bond trader brought to the Second Circuit on Monday what is possibly the first constitutional challenge on direct appeal against the U.S. Securities and Exchange Commission’s administrative law judges, in an attempt to ditch his five-year industry ban and $82,500 fine over an alleged stock-parking scheme.

Thomas Gonnella raised a host of arguments to persuade the Second Circuit to overturn the SEC’s 2016 decision, including claims that the agency’s administrative judges are “inferior officers” whose selections violate the appointments clause of the Constitution because they aren’t appointed by the president, the head of the agency or...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Attached Documents


Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.




Government Agencies