NCLA Backs Adviser's 11th Circ. Challenge Of SEC Judges

Law360 (February 18, 2020, 6:52 PM EST) -- The New Civil Liberties Alliance has thrown its support behind another challenger to the constitutionality of the U.S. Securities and Exchange Commission's administrative law judges, this time in the Eleventh Circuit.

The nonpartisan, nonprofit public interest law firm submitted a petition last week for an en banc rehearing on behalf of Christopher M. Gibson, a former investment adviser accused by the SEC in 2014 of "front running" one of his client's funds.

An administrative law judge found Gibson in violation of securities laws in 2017, and after the U.S. Supreme Court's 2018 decision in Lucia v. SEC deemed ALJs unconstitutionally appointed,...

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