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SEC In-House Judges' Powers Unconstitutional, Justices Told

Law360 (April 13, 2018, 10:24 PM EDT) -- A former investment adviser whose challenge of sanctions imposed by a U.S. Securities and Exchange Commission administrative law judge is now before the U.S. Supreme Court argued in a brief filed Friday that his rights were violated because the judge who heard his case wasn't constitutionally authorized to wield such power.

The brief, filed in the matter of Raymond J. Lucia v. the U.S. Securities and Exchange Commission, a closely watched case that will decide whether the Wall Street regulator's ALJs pass constitutional muster, is a response...
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