Haima Marlier spoke to Financial Planning about the U.S. Supreme Court's decision in Securities and Exchange Commission v. Cochran, ruling unanimously that Michelle Cochran, an accountant from Texas, has the right to challenge the constitutionality of the SEC's in-house judges in federal district court.
According to Haima, the Cochran decision throws a "monkey wrench" in the SEC's reliance on in-house judges by making it clear the constitutionality of their proceedings can be challenged in federal court even before they've reached a decision.
"They have to be prepared for the very real possibility of litigating constitutional claims even before they can get to the merits of the case they're trying to bring," Haima said.
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