Supreme Court wrestles with administrative law judge case
WASHINGTON (AP) — The Supreme Court wrestled Monday with a case brought by a former financial planner known for his "Buckets of Money" strategy, who is challenging the appointment of the administrative law judge who ruled against him.
The case involves the Securities and Exchange Commission's administrative law judges, who conduct hearings on alleged securities law violations and issue initial decisions. The federal government employs administrative law judges in more than 30 agencies, however, giving the case the potential to have a broader impact.
The question the justices are being asked to decide is whether the SEC's administrative law judges are SEC employees or instead "inferior officers" of the United States.