{"id":20456,"date":"2023-07-14T21:01:53","date_gmt":"2023-07-14T21:01:53","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2023\/07\/14\/supreme-court-to-decide-advisors-10-year-sec-fight-sec-roundup\/"},"modified":"2023-07-14T21:01:53","modified_gmt":"2023-07-14T21:01:53","slug":"supreme-court-to-decide-fund-managers-10-year-sec-fight-sec-roundup","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/07\/14\/supreme-court-to-decide-fund-managers-10-year-sec-fight-sec-roundup\/","title":{"rendered":"Supreme Court to Decide Fund Manager’s 10-Year SEC Fight — SEC Roundup"},"content":{"rendered":"
<\/a><\/div>\n
<\/div>\n

Welcome to SEC Roundup, a bimonthly video series by former Securities and Exchange Commission senior trial counsels Nick Morgan<\/a> and Tom Zaccaro<\/a>, founders of the nonprofit advocacy group Investor Choice Advocates Network.<\/p>\n

The Supreme Court agreed on June 30<\/a> to review a case in which hedge fund principal George Jarkesy has been battling the SEC since it brought an administrative proceeding against him<\/a> over 10 years ago.<\/p>\n

Morgan and Zaccaro discuss the case and its broad potential impact with Jarkesy\u2019s lawyers, solo practitoners Karen Cook<\/a> and Mike McColloch<\/a>.<\/p>\n

Jarkesy contends, and a federal appellate court agrees, that the SEC\u2019s administrative proceedings are unconstitutional and deny IAs and others their right to a jury.<\/p>\n

\u201cIt\u2019s a very broken system,\u201d McColloch said.<\/p>\n

The SEC sets up \u201cthese fake courts, I call them fake, inside the agency, administrative law judges \u2026 and they put on trials, just like a federal court would, except no right to trial by jury, the rules of evidence don\u2019t apply, to the extent they ever do, they only apply in favor of the SEC and you lose 100% of the time,\u201d McColloch said. \u201cBy and large it\u2019s a kangaroo court.\u201d<\/p>\n

See the video above for the discussion with Cook and McColloch.<\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to SEC Roundup, a bimonthly video series by former Securities and Exchange Commission senior trial counsels Nick Morgan and Tom Zaccaro, founders of the nonprofit advocacy group Investor Choice Advocates Network. The Supreme...<\/p>\n","protected":false},"author":1,"featured_media":20457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2023\/07\/supreme-court-to-decide-fund-managers-10-year-sec-fight-sec-roundup.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20456"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20456"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/20457"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}