Jeremiah Williams Discusses Supreme Court Ruling on SEC v. Jarkesy in the Financial Times, FundFire

In an article for the Financial Times, litigation & enforcement partner Jeremiah Williams discussed how the Supreme Court’s recent ruling on SEC v. Jarkesy will further shift the process of internal adjudication.

“The SEC has already been shifting more to federal court, especially for fraud claims, so the decision will likely have a somewhat limited impact on the number of federal cases that the SEC brings,” said Jeremiah.

He added that the ruling was limited to fraud claims. “The SEC enforces many statutes and rules that do not involve fraud, and these can still be brought in-house.”

In a FundFire article about the case, Jeremiah noted that the SEC has not historically relied “explicitly” on Chevron deference in much of its rulemaking compared to other Federal regulators.

The agency has had “so much of their framework and the way they operate challenged in the last couple years,” he said. This is “yet another restriction that they're going to face.”