Supreme Court Opens SEC, FTC to Broad Legal Challenges (2)

The US Supreme Court opened a new avenue for fighting off complaints by the Securities and Exchange Commission and Federal Trade Commission in a decision that could reduce the leverage of two of the most powerful federal regulators.

The justices unanimously said companies and people facing agency investigations or complaints can go straight to federal court with some constitutional challenges — including attacks on the use of in-house judges to handle cases.

The ruling, written by liberal Justice Elena Kagan, didn’t go as far as two conservative justices wanted. But it’s the latest in a line of rulings that ...