Anthony Kennedy

Supreme Court wrestles with administrative law judge case

The Supreme Court wrestled Monday with a case brought by a former financial adviser known for his "Buckets of Money" strategy who is challenging the appointment of the administrative law judge who ruled against him.

The case involves the Securities and Exchange Commission's administrative law judges, who conduct hearings on alleged securities law violations and issue initial decisions. The federal government employs administrative law judges in more than 30 agencies, however, giving the case the potential to have a broader impact.

During arguments Monday, Justice Anthony Kennedy wanted to know "what effect, if any" the case would have on administrative...

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