Supreme Court wrestles with administrative law judge case
Court Watch
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 law judges in other agencies. Attorney Mark Perry suggested that the court's decision could impact some 150 administrative law judges in 25 agencies.
The question the justices are being asked to decide is whether the SEC's administrative law judges are SEC employees or instead "inferior officers" of the United States. The answer is important in determining who can appoint them to their positions.
The case before the Supreme Court involves former financial adviser Raymond J. Lucia, who as a radio show host, author and seminar leader promoted a retirement strategy he called "Buckets of Money." Lucia's strategy was that in retirement investors should first sell safer investments, giving riskier investments time to grow.
Related listings
-
Trump travel ban is focus of Supreme Court's last arguments
Court Watch 04/16/2018President Donald Trump's ban on travelers from several mostly Muslim countries is the topic of arguments Wednesday at the Supreme Court, with a Trump administration lawyer facing questions during the first half of arguments.The travel ban case is the...
-
Kansas faces skeptical state Supreme Court on school funding
Court Watch 07/17/2017Attorneys for Kansas will try to convince an often skeptical state Supreme Court on Tuesday that the funding increase legislators approved for public schools this year is enough to provide a suitable education for kids statewide. The high court is he...
-
Brother of victim in unsolved Ohio massacre appears in court
Court Watch 05/19/2017The brother of one of eight victims of an unsolved southern Ohio massacre has appeared in court for a hearing on evidence-tampering and vandalism charges over allegations he destroyed a GPS tracking device. Forty-year-old James Manley, of Peebles, ap...
USCIS Issues Clarifying Guidance on NAFTA TN Status Eligibility for Economists
U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.
The North American Free Trade Agreement (NAFTA) TN nonimmigrant status allows qualified Canadian and Mexican citizens to temporarily enter the U.S. to engage in specific professional activities, including the occupation of economist. The agreement, however, does not define the term economist, resulting in inconsistent decisions on whether certain analysts and financial professionals qualify for TN status as economists.
TN nonimmigrant status is intended to allow a limited number of professionals and specialists to work temporarily in certain specifically identified occupations in the United States. This updated guidance provides USCIS officers with a specific definition of one such category – economists – allowing them to adjudicate applications in a way that complies with the intent of the agreement. This policy update clarifies that professional economists requesting TN status must engage primarily in activities consistent with the profession of an economist. Individuals who work primarily in other occupations related to the field of economics — such as financial analysts, marketing analysts, and market research analysts — are not eligible for classification as a TN economist.