SEC Posts

US Supreme Court Says SEC Judicial Appointments Unlawful

SEC Judges Were Appointed Unlawfully, Justices Rule: (“The Supreme Court ruled on Thursday that in-house judges at the Securities and Exchange Commission had been deciding cases without constitutional authorization. * * * The in-house judges, known as administrative law judges, were appointed by staff members rather than by the five-member commission itself. That ran afoul of the Constitution’s appointments clause, Justice Elena Kagan wrote for the majority in the 7-to-2 decision.”)

Feds Probe Top Equifax Executives’ Stock Sales

Media Report: Feds Investigating Top Equifax Executives’ Stock Trading: (“Two federal agencies are investigating three top Equifax executives’ stock trades to see whether they violated insider trading laws, according to a media report.  Bloomberg reported Monday that a criminal probe by the U.S. Attorney’s Office in Atlanta is focused on Equifax’s chief financial officer and presidents of two business units, who sold a combined $1.8 million in stock in early August, days after the company learned of a massive security breach, but before it was public.)”