A conservative attack on government regulation reaches the Supreme Court
Featured Legal News
The Supreme Court is hearing arguments in a challenge to the Securities and Exchange Commission’s ability to fight fraud, part of a broad attack on regulatory agencies led by conservative and business interests.
The case before the justices Wednesday involves the Biden administration’s appeal of a lower-court ruling that threw out stiff financial penalties imposed on hedge fund manager George R. Jarkesy by the SEC.
The high court’s decision could have far-reaching effects on the SEC and other regulatory agencies, and it’s just one of several cases this term that could constrict federal regulators. The court’s conservative majority has already reined them in, including in last May’s decision sharply limiting their ability to police water pollution in wetlands.
Last year, a divided panel of the New Orleans-based 5th U.S. Circuit Court of Appeals ruled in favor of Jarkesy and his Patriot28 investment adviser group on three separate issues.
It found that the SEC’s case against him, resulting in a $300,000 civil fine and the repayment of $680,000 in allegedly ill-gotten gains, should have been heard in a federal court instead of before one of the SEC’s administrative law judges.
The panel also said Congress unconstitutionally granted the SEC “unfettered authority” to decide whether the case should be tried in a court of law or handled within the executive branch agency. And it said laws shielding the commission’s administrative law judges from being fired by the president are unconstitutional.
Judge Jennifer Walker Elrod wrote the appellate opinion, joined by Judge Andrew Oldham. Elrod was appointed by former President George W. Bush, and Oldham by former President Donald Trump.
Judge Eugene Davis, a nominee of former President Ronald Reagan, dissented.
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Processing Change for Certain Form I-730 Petitions
USCIS changed the processing location for certain Form I-730, Refugee/Asylee Relative Petition, filings. Previously the Service Center Operations Directorate processed these filings. Now, the International Adjudications Support Branch (IASB) in the Refugee, Asylum, and International Operations Directorate will process the petitions filed by individuals who were admitted to the United States as refugees. Petitioners and/or accredited representatives who file refugee-based Form I-730 petitions will receive further instructions when IASB receives their filings. Form I-730 petitions filed by persons granted asylum will not be affected by this change. The mailing instructions for Form I-730 remain the same. Petitioners should continue to follow the Where to File directions on the Form I-730 page. This policy update is consistent with the Department of Labor’s (DOL’s) Standard Occupational Classification system. DOL defines economists as people who conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. Economists may collect and process economic and statistical data using sampling techniques and econometric methods.