A Fifth Circuit panel ruled that the U.S. Securities and Exchange Commission’s use of in-house courts to bring a securities fraud case against a hedge fund manager was unconstitutional, throwing out a fine and other penalties imposed by the agency.
A Fifth Circuit panel ruled that the U.S. Securities and Exchange Commission’s use of in-house courts to bring a securities fraud case against a hedge fund manager was unconstitutional, throwing out a fine and other penalties imposed by the agency.