September 5, 2024 – 8:10 AM PDT
(Reuters) – The U.S. Securities and Exchange Commission last month asked for the dismissal of all active misconduct proceedings against accountants sitting before its in-house judges, which legal experts said was a fresh sign that a recent Supreme Court ruling is curtailing the agency’s enforcement powers.
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Between Aug. 2 and Aug. 19, the SEC’s enforcement division filed motions to dismiss eight enforcement actions pending before its administrative law judges, public filings show. In each case, some of which date back as far back as 2021, the agency had been seeking to discipline accountants for alleged malpractice.
The SEC offered no explanation for the decision and a spokesperson declined to comment.
Federal law allows the SEC to bring some enforcement actions before its in-house courts, a more…
