SEC Proposes Overhauling In-House Court Amid Unfairness Claims
- U.S. regulator may let enforcement targets depose witnesses
- Proposals follow criticisms that in-house judges favor the SEC
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The U.S. Securities and Exchange Commission may overhaul how its in-house court operates for the first time in two decades after high-profile defendants attacked the forum as unfair and unconstitutional.
Among the changes under consideration by the regulator is letting people sued in its administrative courts depose witnesses, according to a statement issued Thursday. Another proposal would give defendants more time to prepare for key hearings, the SEC said.