Watchdogs warn the decision could have implications that extend beyond the Securities and Exchange Commission.
The U.S. Supreme Court on Thursday ruled along ideological lines that the Securities and Exchange Commission cannot use in-house legal proceedings to civilly penalize fraudsters, a decision that could strike a devastating blow to federal agencies’ ability to fight corporate crime. In the 6-3 decision, the high court’s conservative supermajority deemed the SEC’s in-house proceedings...
