Jarkesy, SEC Dispute Next Steps After Supreme Court’s Ruling

Former hedge fund manager George Jarkesy told the Fifth Circuit it shouldn’t send an enforcement case against him back to the SEC now that the US Supreme Court has ruled he’s entitled to a jury trial.

The Securities and Exchange Commission, meanwhile, said the case should go directly back to it. The parties’ dueling letters were filed with the US Court of Appeals for the Fifth Circuit on Tuesday.

An administrative law judge found Jarkesy had committed securities fraud, and the SEC eventually ordered him to pay almost $1 million. The Biden administration argued unsuccessfully that SEC complaints don’t fall ...