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Challenge to SEC In-House Proceedings Gets Libertarian Support

Dec. 8, 2020, 9:59 PM

Three libertarian groups are backing an accountant’s Fifth Circuit challenge to the constitutionality of the SEC’s administrative enforcement proceedings, according to new filings with the appeals court.

People facing in-house Securities and Exchange Commission proceedings should be able to bring constitutional challenges in federal court without having to first complete administrative review, the Cato Institute, the Competitive Enterprise Institute, and Americans for Prosperity Foundation told the U.S. Court of Appeals for the Fifth Circuit.

Cato and CEI jointly filed one amicus brief in support of Michelle Cochran, who faced an SEC in-house action for allegedly failing to comply with auditing...

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