美国最高法院援引《宪法第七修正案》规定，证券交易委员会不能使用行政程序对违反证券法的行为进行民事处罚。 US Supreme Court rules SEC cannot use administrative proceedings for civil penalties in securities law violations, citing Seventh Amendment.
美国最高法院裁定，美国证券交易委员会（SEC）不能利用其内部行政程序对被指控违反证券法的人寻求民事罚款。 The US Supreme Court has ruled that the Securities and Exchange Commission (SEC) cannot use its internal administrative proceedings to seek civil monetary penalties against those accused of securities law violations. 在SEC诉Jarkesy一案中，众议院以6比3的投票结果作出裁决，认为《第七修正案》保留的陪审团审判权禁止SEC使用其行政程序。 The decision in SEC v. Jarkesy, a 6-3 ruling, found that the Seventh Amendment's preservation of the right to trial by jury prohibits the SEC from using its administrative process. 该裁决可能会产生深远影响，因为它可能导致美国证券交易委员会提出的和解提议增加，并导致州监管机构在此前由联邦监管机构主导的案件中发挥更大作用。 This ruling could have wide-ranging consequences, as it may lead to an increase in SEC settlement offers and a greater role for state regulators in cases previously led by the federal regulator.