Bloomberg Law
March 31, 2017, 5:08 PM UTC

SEC Wraps Up Case Against Adviser Challenging In-House Judges

Former investment adviser Dawn Bennett must pay nearly $4 million for inflating assets and exaggerating investment returns in radio advertisements for her firm, the Securities and Exchange Commission said (In re Bennett Grp. Fin. Serv., LLC, S.E.C., Admin. Proc. File No. 3-16801, 3/30/17).

The commission’s March 30 opinion clears the way for Bennett to move forward with her federal court claims that the agency’s in-house forum is unconstitutional.

The federal appeals courts are divided on the constitutional question. The U.S. Court of Appeals for the Tenth Circuit concluded in a case against Colorado businessman David Bandimere that the ...

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