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Elon Musk, Mark Cuban Back Case to End SEC s In-House Judges

Elon Musk, Mark Cuban Back Case to End SEC s In-House Judges
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SEC s in-house enforcement powers at risk in US Supreme Court case

A challenge to the U.S. Securities and Exchange Commission's powers to protect investors from fraud comes before the Supreme Court on Wednesday in another in a series of legal attacks against federal agencies that regulate financial markets. The justices are due to hear arguments in an appeal by President Joe Biden's administration of a lower court's ruling restricting the SEC's power to enforce securities laws through the agency's longstanding in-house tribunal system. The case involves hedge fund manager George Jarkesy, who the SEC fined and barred from the industry after determining he had committed securities fraud.

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