Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 11 JULY 2024

Long Awaited U.S. Supreme Court Ruling Curtails SEC's Use Of Administrative Courts

Osler, Hoskin & Harcourt LLP
Explore more from Osler, Hoskin & Harcourt LLP

On June 27, 2024, the United States Supreme Court (SCOTUS) released its ruling [PDF] on what has been a decade-long dispute between the Securities Exchange Commission (SEC) and hedge...

CanadaLitigation, Mediation & Arbitration
Lawrence Ritchie
Lawrence Ritchie
Sarah Firestone
Sarah Firestone
Author LinkedIn connections

On June 27, 2024, the United States Supreme Court (SCOTUS) released its ruling [PDF] on what has been a decade-long dispute between the Securities Exchange Commission (SEC) and hedge fund manager, George Jarkesy1, ultimately curtailing the SEC's use of its in-house court system. In a 6-3 ruling, SCOTUS upheld the Fifth Circuit's decision2 that the SEC's use of its in-house judicial forum and administrative law judges (ALJs) violates the Seventh Amendment of the U.S. Constitution, particularly when it is used to impose civil penalties on defendants accused of securities fraud. Jarksey was accused of committing securities fraud, more specifically for deceiving various investors regarding the risks associated with investing in funds overseen by his company, Patriot 28, LLC. Osler previously reported on the Fifth Circuit's ruling, outlining the structure and history of SEC administrative proceedings, a summary of the Fifth Circuit's ruling, and key takeaways and

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The Coldcard Exploit: Why Victims May Have Two Routes To Recovery

A five-year-old firmware defect in Coldcard hardware wallets has enabled attackers to systematically drain an estimated $116 million in Bitcoin from over 5,200 victims since July 2026. This unprecedented exploit raises critical questions about manufacturer liability and creates two distinct legal pathways for recovery: blockchain tracing against the perpetrators and potential litigation against Canadian manufacturer Coinkite for product defects that undermined the fundamental security promise of devices mar
CanadaLitigation, Mediation & Arbitration
WeirFoulds LLP
WeirFoulds LLP
Article

Ontario’s New AI Rules: What Lawyers And Expert Witnesses Need To Know

Ontario's Rules of Civil Procedure now include strict amendments requiring lawyers and expert witnesses to certify the authenticity of every citation and authority used in court materials. These new anti-hallucination provisions impose significant penalties for presenting AI-generated fabricated authorities, fundamentally shifting accountability for artificial intelligence use in litigation.
CanadaLitigation, Mediation & Arbitration
Soloway Wright
Soloway Wright
Article

Plaintiffs Awarded A Total Of $800,000 In Damages For Defamation (Murdy v. Barrette)

A Canadian court awarded $800,000 in damages to a couple defamed by serious false allegations of sexual assault and criminal misconduct spread through social media. The case examines how factors like the severity of accusations, use of social media platforms, and a defendant's failure to mount a defense can dramatically escalate defamation damages beyond typical awards.
CanadaLitigation, Mediation & Arbitration
Gardiner Roberts LLP
Gardiner Roberts LLP
Article

Not Beyond Reproach: Alberta Court Confirms Jurisdiction Over Alberta Energy Regulator

The Alberta Court of King's Bench has confirmed its jurisdiction to grant injunctive relief against the Alberta Energy Regulator despite a broadly worded statutory privative clause. This landmark decision, arising from Sumerian Oil & Gas's application to stay a suspension order affecting approximately 900 wells, represents one of the first considerations of the Supreme Court of Canada's recent Democracy Watch ruling and may significantly impact future disputes involving AER orders.
CanadaLitigation, Mediation & Arbitration
MLT Aikins LLP
MLT Aikins LLP
Article

Do Canadian Manufacturers Owe A Duty To Develop Safer Alternatives?

The British Columbia Court of Appeal has left open the possibility that pharmaceutical manufacturers may owe a duty of care to develop safer alternatives to their existing products, even when those products are properly approved and labeled. This decision in Gilead Sciences, Inc. v. I.F. contrasts sharply with a recent California Supreme Court ruling that rejected such a "duty to innovate," potentially setting Canada on a divergent path in product liability law.
CanadaLitigation, Mediation & Arbitration
Torys
Torys
Article

The Trade War Tit-for-tat Continues: United States Responds To Canada’s Retaliatory Surtaxes With New Tariffs And Import Prohibitions

Canada and the United States have escalated their trade war with new retaliatory tariffs and import prohibitions taking effect in September 2026. What specific goods are now subject to these measures, and how do the complex layers of tariffs interact to impact cross-border commerce? This comprehensive analysis breaks down the latest developments in the deteriorating Canada-U.S. economic relationship.
CanadaInternational Law
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Elbows Back Up: U.S. Section 338 Tariffs, Canada’s Retaliatory Surtaxes And The Current Tariff Landscape

As Canada and the United States escalate their trade dispute with new retaliatory tariffs, businesses face mounting compliance challenges across multiple sectors. This analysis examines the comprehensive tariff landscape affecting bilateral trade, including Canada's September 8, 2026 surtaxes on U.S. imports and the corresponding American section 338 tariffs, detailing rates, exemptions, and the legal frameworks governing these measures.
CanadaInternational Law
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Canadian Prime Minister Announces ‘Productivity Mega Deduction’

Canada's new Productivity Mega Deduction permanently provides immediate expensing for a wide range of depreciable property and Canadian development expenses, dramatically expanding the scope beyond the previously announced Productivity Super Deduction. The measure aims to reduce Canada's marginal effective tax rate on new business investment to 6.4%, positioning it as the lowest among major economies and less than half the U.S. rate.
CanadaTax
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

OSC Releases Crypto Asset Survey Results

The Ontario Securities Commission's 2026 survey reveals significant shifts in Canadian cryptocurrency adoption, awareness, and sentiment. With ownership rates more than doubling since 2023 and a growing belief that crypto will play a key role in Canada's financial system, the findings paint a picture of an evolving landscape where traditional financial advisors increasingly recommend crypto investments, yet regulatory awareness remains surprisingly low among the general population.
CanadaFinance and Banking
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP