'Big Short' Adviser Case Paused While DC Circ. Weighs ALJs

Law360, New York (May 18, 2017, 4:13 PM EDT) -- The D.C. Circuit on Wednesday stayed the Securities and Exchange Commission’s sanctions against investment adviser Wing Chau of "The Big Short" fame and paused his appeal of the SEC's administrative law judge system, whose fate it will consider in another case later this month.

The court’s decision means Chau and his business Harding Advisory LLC will avoid “immediate bankruptcy,” they said in court filings, and adds them to the growing pile of defendants whose fate is tied up with a challenge brought by adviser Raymond Lucia...
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