S. Michael McColloch PLLC | White Collar Criminal Defense | Dallas, TX | Defended Hedge Fund Manager in SEC Enforcement Actions, Winning Fifth Circuit Ruling Striking Down Agency Administrative Courts, then Arguing Case in U.S. Supreme Court - Decision Pending
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Defended Hedge Fund Manager in SEC Enforcement Actions, Winning Fifth Circuit Ruling Striking Down Agency Administrative Courts, then Arguing Case in U.S. Supreme Court - Decision Pending


  • Defended hedge fund manager in SEC investigation for advisor fraud for alleged misstatements to investors and misapplication of investor funds after the fund suffered losses in wake of 2008 financial meltdown.  After Commission elected to pursue enforcement action in administrative proceeding instead of federal court, challenged the agency's administrative enfocement scheme as unconstitutional on multiple grounds.  Won landmark Fifth Circuit ruling striking down SEC’s enhanced administrative enforcement powers under Dodd-Frank unconstitutional, as violating Seventh Amendment right to jury trial and violating the "non-delegation" doctrine, a legal tenet which had not been successfully applied in any court in the last ninety years.   The U.S. government appealed to Supreme Court.
 
Result:  Presented oral argument to U.S. Supreme Court in lengthiest argument session of Court's 2023 Term; decision pending.