On June 21, 2018, the US Supreme Court issued an opinion holding that the Securities and Exchange Commission (SEC) failed to follow the appropriate constitutional processes for appointing its administrative law judges. You can find here a detailed analysis of the decision and its ramifications not only for the SEC but for administrative law judges at other US federal government agencies.

The Norton Rose Fulbright Legal update was written by:

Kevin J. Harnisch, Head of SEC Enforcement and a partner in the Norton Rose Fulbright office in Washington, DC

Gerard G. Pecht, Global Head of Dispute Resolution and Litigation and a partner in the Norton Rose Fulbright office in Houston, Texas

Peter A. Stokes, partner in the Norton Rose Fulbright office in Austin, Texas

Mark Thomas Oakes, partner in charge of the Norton Rose Fulbright office in Austin, Texas

Steven Howard, partner in the Norton Rose Fulbright office in New York

John J. Byron, senior associate in the Norton Rose Fulbright office in New York