U.S. Chamber Latest Critic Of SEC Court System

The U.S. Chamber of Commerce has called for changes in the rules for the SEC’s administrative court system, which allows the SEC to pursue insider trading and investor fraud cases though its own administrative court rather than a federal court. This is the latest high-profile criticism of the SEC forum, which was enabled by the Dodd-Frank Act. The Chamber is calling for procedural reform, including greater discovery rights for defendants, as well as a right to move a case to a federal court.