"The Supreme Court is, no doubt, the nation’s most powerful court. But the 5th Circuit, the federal appeals court that covers Louisiana, Mississippi and Texas, is staking out a claim to be the most dangerous — the least wedded to respecting precedent or following an orderly judicial process. The 5th is arguably the most conservative among the country’s dozen appeals courts." - https://www.washingtonpost.com/opinions/2021/08/31/5th-circu...
5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
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Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#22This reminds me (in somewhat the opposite direction) of the circular processes at the Federal Energy Regulatory Commission (FERC), which has broad powers over interstate electricity, hydro, and natural gas pipelines.
Unlike the SEC that goes after industry, FERC has frustrated thousands as a rubber stamp for industry and aggressive granting of eminent domain.
These agencies are in desperate need of balance with the courts.
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#23I think a news article would be an easier read than the entire 54-page opinion. https://www.reuters.com/legal/government/sec-in-house-judges... This particular article also links to a copy of the opinion.
Controversial opinion but I think we should all be reading way more primary sources and way fewer news articles.
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#24I think a news article would be an easier read than the entire 54-page opinion. https://www.reuters.com/legal/government/sec-in-house-judges... This particular article also links to a copy of the opinion.
The whole meat of it is on the first 2 pages. Pretty simply says the SEC violated the seventh amendment by not giving the plaintiff a jury trial
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#25Sets an interesting precedent for literally every other federal body that "acts as prosecutor and judge" while skipping the judicial system. Should everyone fighting an immigration or deportation case be able to request a jury trial? What about the military? Labor violations? EPA fines?
about time! I think the common circuits are too far up their own ass to just take a fresh view at simply questions. 2nd circuit and 9th circuit just see too much action. Get a panel of judges from Texas and Louisiana for once (5th circuit) and they took a fresh view and came to an understanding that matches a plain reading of the constitution.
there were a lot of barriers to this occurring though, which is a bigger issue.
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#26Earlier quoted context omitted.
Sure, but this is about constraints by the Constitution, and military members do not give up their Constitutional protections when they enlist.
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger ;
> in the time of war
So are military courts going to close down since we’ve now ended the Afghanistan war? Or is that comma before “militia” going to mean that the time of war phrase is on for people who in a militia?
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#27Earlier quoted context omitted.
I'd kill for mouse-over tooltips that let you get definitions of key terms. Turning inline references to numbered statutes and prior court rulings into links to said statues and judgements would be nice too. These aren't hard problems since legal stuff is pretty rigid about making sure these things are not ambiguous. This ruling is pretty good and readable though. Many state and federal laws are dense AF.
Yea, where's the NLP legalese to English App/SaaS?
Westlaw, LexisNexis, etc
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#28I have an axe to grind against the entire concept of ALJ's, and these guys are grinding that axe, so this makes me giddy.
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#29Sets an interesting precedent for literally every other federal body that "acts as prosecutor and judge" while skipping the judicial system. Should everyone fighting an immigration or deportation case be able to request a jury trial? What about the military? Labor violations? EPA fines?
Anyone can request a jury trial in the USA. It's guaranteed by the Constitution.
Unless you signed an agreement that states otherwise... Most employee and contractor and user agreements fall into this category.
Re: 5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]
#30The gist of the decision is that the SEC’s imposition of civil penalties and disgorgement violated defendants’ seventh amendment right to a jury trial. Under the seventh amendment, you have a right to a jury trial for any claim that would have been an action at law in the courts of England at the time of the founding, prior to the merger of law and equity.[1] There is an additional principle that so called “public ri…
Very helpful. Seems like it could be a huge deal. Am curious what the impact from a caseload perspective would be? How many actions are handled on an administrative basis vs how much capacity the relevant court systems have? And impact on duration- administrative actions typically handled in x time, courts take y time. Would love pointers if anyone has them.