September 08, 2016

The Securities and Exchange Commission will defend the constitutionality of its in-house forum before a fourth federal appeals court this year in what could produce a circuit split requiring U.S. Supreme Court intervention.

The late October oral argument before the Fourth Circuit in Bennett v. SEC is just one of several significant cases in which the SEC is a party now pending in the federal circuits.

In reponse to the large amount of cases filed in the Second and Ninth Circuits, Cohen Milstein's Daniel S. Sommers said, “the Second and Ninth Circuits are home to many publicly traded companies, and are major financial centers. It makes sense that more cases are filed within these circuits, and that they would have “a comparatively greater volume of appellate practice."

The full Bloomberg BNA article can be read here.