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How will SEC leadership strategy shift in response to the ruling?
2
Resolution / Starting Odds
More aggressive enforcement • 33%
Less aggressive enforcement • 33%
No significant change • 34%
Official SEC communications and leadership statements
Story
Supreme Court Rules 6-3: SEC Must Use Jury Trials in Fraud Cases
Jun 27, 2024, 10:45 PM
The U.S. Supreme Court has ruled that the Securities and Exchange Commission (SEC) cannot use in-house judges for civil fraud complaints, mandating that defendants are entitled to a jury trial in federal court. This decision, reached with a 6-3 majority, significantly impacts the SEC's enforcement capabilities. The ruling in the case of SEC v. Jarkesy asserts that the SEC's practice of using administrative law judges violates the Seventh Amendment, which guarantees the right to a jury trial in fraud cases. This landmark decision curbs the SEC's power to unilaterally impose fines and could lead to increased litigation as defendants now have the right to present their cases to a jury of their peers.
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Gary Gensler remains as SEC Chair • 25%
New SEC Chair appointed • 25%
Interim SEC Chair appointed • 25%
No change in leadership • 25%
More crypto-friendly • 25%
Less crypto-friendly • 25%
No significant change • 25%
Uncertain • 25%
Appeal the decision • 25%
Amend regulations • 25%
No changes • 25%
Other actions • 25%
Pro-crypto regulation • 25%
Stricter market regulations • 25%
Focus on ESG compliance • 25%
Other • 25%
More lenient • 25%
More stringent • 25%
No change • 25%
Unclear outcome • 25%
Relaxation of cryptocurrency regulations • 25%
Tightening of cryptocurrency regulations • 25%
Introduction of new financial instruments • 25%
Other • 25%
Improved significantly • 25%
Improved slightly • 25%
No change • 25%
Worsened • 25%
Gary Gensler remains • 25%
New Chair appointed • 25%
Interim Chair appointed • 25%
Position remains vacant • 25%
Cryptocurrency Regulation • 25%
Market Transparency • 25%
Investor Protection • 25%
Other • 25%
Issue new guidelines • 25%
Appeal the ruling • 25%
No further action • 25%
Other • 25%