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The SEC should listen to Sen. Cotton
On Tuesday Sen. Tom Cotton (R-Ark.) asked tough questions to the chairman of the Securities and Exchange Commission (SEC), Jay Clayton, during a banking committee hearing about an opaque form of regulation which has silenced Americans for far too long. The SEC lawlessly enacted the pernicious “gag rule” in 1972 without going through notice-and-comment rule-making. The U.S. Commodity Futures Trading Commission quietly slipped…
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Forbes: Will Constitutional Defects With Administrative Law Judges Collapse The SEC's House Of Cards?
In the News
“November 30, 2018 marked an obscure but important one-year anniversary. On that date, shortly after the Solicitor General had filed a brief confessing error in the U.S. Supreme Court, the Securities and Exchange Commission sought to fix the newly exposed defects in the unconstitutional appointments of its Administrative Law Judges (ALJs). But the purported “ratification” SEC…
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Lucia sues the SEC again – challenging ALJ Constitutionality and seeking dismissal
In the News
A new lawsuit filed in federal court in California seeks to have further SEC ALJ proceedings against former IA Ray Lucia dismissed, claiming the ALJ system remains unconstitutional because judges can only be fired via the civil service system. The latest legal twist in this six year-old case follows Lucia’s victory before the U.S. Supreme…
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Wall Street Journal: How the SEC Silences Criticism
In the News
One of the strongest rules in free-speech law is that the government may not engage in “prior restraint” of speech except in extreme circumstances. Yet the Securities and Exchange Commission does so routinely. Under a rule adopted in 1972, the SEC demands that parties entering into settlements with the commission be silenced about the prosecution…
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Townhall: Will the Ninth Circuit Gut a Landmark Civil Rights Case?
In the News
“Groucho Marx once resigned membership from the Friars Club quipping, “I don’t want to belong to any club that will accept me as a member.” Imagine Groucho’s dismay had the club been compelled to disclose his membership to the government! That is exactly what California’s attorney general is doing by requiring 501(c)(3) charities to divulge…
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How the SEC Silences Criticism
One of the strongest rules in free-speech law is that the government may not engage in “prior restraint” of speech except in extreme circumstances. Yet the Securities and Exchange Commission does so routinely. Under a rule adopted in 1972, the SEC demands that parties entering into settlements with the commission be silenced about the prosecution…
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