Great analysis of the issues raised by the SEC's use of administrative proceedings to avoid juries, evidentiary rules, discovery by defendants and other procedural safeguards afforded to defendants in government prosecutions.
We have written about this before, and the objections are starting to gain some traction. See, Judge Rakoff Questions the SEC's Overuse of Administrative Proceeding, SEC's Use of Administrative Hearings Under Fire, The SEC's Use of the Rocket Docket is Challenged and At the SEC, a question of Home Court Edge.
The comment from Andrew J. Ceresney, the director of the S.E.C.’s enforcement division, that “our use of the administrative forum is eminently proper, appropriate and fair to respondents" demonstrates a total lack of understanding of his agencies own administrative proceedings, or a callous disregard for what is proper, appropriate or fair. No discovery, the use of double and triple hearsay, reliance on their own staff as independent expert witnesses and reliance on double and triple hearsay on significant issues is not proper, appropriate or fair. Then again, Mr. Ceresney is the head of the enforcement division, hardly an independent commentator.
S.E.C. Faces Challenges Over the Constitutionality of Some of Its Court Proceedings - NYTimes.com
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