ARNOLD F. SOCK, Attorney at Law, Opines on: The U.S. Supreme Court is Split On the Accountability Issue In Lucia Case (832 F. 3d 27) Arguments
On Monday, the U.S. Supreme Court appeared divided as to whether the U.S. Securities and Exchange Commission administrative law judges are "inferior officers" subject to the Appointments Clause of the U. S. Constitution. The question is whether a ruling that they are would render them more accountable for their decisions or less politically independent.
The U.S. Supreme Court Justices heard oral arguments in Lucia v. U.S. Securities and Exchange Commission (832 F. 3d 27) appeared divided on whether the U.S. Securities and Exchange Commission administrative law judges are "inferior officers" subject to the Appointments Clause of the United States Constitution, and whether a ruling that they are would render them more accountable for their decisions or less politically independent.
The case is based on an appeal by former investment adviser Raymond J. Lucia of sanctions handed down by an U.S Securities and Exchange Commission in-house judge. Lucia's postion is that his rights were violated because the judge hearing the case was not subjec to the Appointments Clause and was appointed without consideration by the United States Congress.. I agree with Mr. Lucia.
Opinion by ARNOLD F. SOCK, Attorney at Law