Supreme Court wrestles with administrative law judge case
Law Journals
The Supreme Court wrestled Monday with a case brought by a former financial adviser known for his "Buckets of Money" strategy who is challenging the appointment of the administrative law judge who ruled against him.
The case involves the Securities and Exchange Commission's administrative law judges, who conduct hearings on alleged securities law violations and issue initial decisions. The federal government employs administrative law judges in more than 30 agencies, however, giving the case the potential to have a broader impact.
During arguments Monday, Justice Anthony Kennedy wanted to know "what effect, if any" the case would have on administrative law judges in other agencies. Attorney Mark Perry suggested that the court's decision could impact some 150 administrative law judges in 25 agencies.
The question the justices are being asked to decide is whether the SEC's administrative law judges are SEC employees or instead "inferior officers" of the United States. The answer is important in determining who can appoint them to their positions.
The case before the Supreme Court involves former financial adviser Raymond J. Lucia, who as a radio show host, author and seminar leader promoted a retirement strategy he called "Buckets of Money." Lucia's strategy was that in retirement investors should first sell safer investments, giving riskier investments time to grow.
Related listings
-
Supreme Court strikes down Minnesota's voter clothing law
Law Journals 06/11/2018The Supreme Court on Thursday struck down a Minnesota law that barred voters in the state from wearing a wide range of political hats, T-shirts and pins to the polls.Minnesota had defended its law as a reasonable restriction that keeps order at polli...
-
Supreme Court allows Ohio, other state voter purges
Law Journals 06/09/2018The Supreme Court ruled Monday that states can clean up their voting rolls by targeting people who haven't cast ballots in a while.The justices rejected, by a 5-4 vote Monday, arguments in a case from Ohio that the practice violates a federal law int...
-
Supreme Court allows Arkansas to enforce abortion restrictions
Law Journals 06/04/2018The Supreme Court is allowing Arkansas to put into effect restrictions on how abortion pills are administered. Critics of a challenged state law say it could effectively end medication abortions in the state. The justices did not comment Tuesday in r...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.