Posts tagged Barbara Duka.
Manhattan federal Judge Richard Berman yesterday (August 12) issued a preliminary injunction halting the SEC's administrative action against former S&P executive Barbara Duka, holding the SEC's in-house courts were "likely unconstitutional" based on the way the SEC selects its administrative judges. Earlier this summer, Atlanta federal Judge Leigh Martin May enjoined an SEC administrative insider-trading action against developer Charles Hill for the same reasons. A month later, May enjoined a second SEC action against Atlanta investment-advisory firm Gray Financial ...
Posted in: SEC
Tags: Barbara Duka, burr forman, Chair Mary Jo White, Constitution's Appointment Clause, dodd-frank act, Judge Richard Berman, Likely Unconstitutional, preliminary injunction, S&P, SEC, SEC Admin Actions, Second Federal Judge, Securities Litigation & Arbitration, Securities Litigation blog
The SEC's administrative forum has been under increasing scrutiny over the past year. Now the SEC has removed an ALJ from a high-profile case, after he refused the Commission's "invitation" to provide a no-bias affidavit in similar case. In a May 6 article, "SEC Wins With In-House Judges," the Wall Street Journal reported that former ALJ Lillian McEwen felt pressured by the SEC's Chief Administrative Law Judge over her failure to rule more often in the Commission's favor. Respondents appealing an administrative case to the full Commission have alleged the process is unfair and ...
Posted in: SEC
Tags: ALJ, Barbara Duka, burr forman, CMBS, Duka, Lillian McEwen, no-bias affidavit, SEC, SECs Chief Administrative Law Judge, Securities Litigation & Arbitration, Timbervest