When the SEC Takes a Decade to Decide
In this episode of Unwritten Law, NCLA President and Chief Legal Officer Mark Chenoweth and Senior Litigation Counsel John Vecchione are joined by Senior Litigation Counsel Russ Ryan to discuss Lek Securities Corp. v. SEC, a case highlighting extreme delays in administrative adjudication.
The case involves a nearly decade-long delay by the SEC in resolving an appeal from a New York Stock Exchange disciplinary action—raising serious constitutional and statutory concerns. Russ explains how the delay implicates due process, the Administrative Procedure Act’s requirement that agencies act within…
The skinny
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