“The Supreme Court on Thursday stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies,” the AP reports.
“The justices ruled in a 6-3 vote that people accused of fraud by the SEC, which regulates securities markets, have the right to a jury trial in federal court.
The in-house proceedings the SEC has used in some civil fraud complaints violate the Constitution, the court said.”