Accountant Challenging SEC ALJs Seeks Full 5th Circ. Review

A Texas-based accountant is seeking a full-panel review from the Fifth Circuit as her battle to prove the unconstitutionality of the U.S. Securities and Exchange Commission’s administrative law judges continues.

Michelle Helterbran Cochran continued to claim on Thursday in a petition for en banc review that the SEC’s proceedings against her violate separation-of-powers principles because its ALJs are “insulated from control by the president by multiple layers of for-cause removal restrictions.”

Published in Law360