Supreme Court Hears Case on SEC’s Enforcement Work
The Supreme Court last week heard arguments in a case that could impede the Securities and Exchange Commission’s ability to protect American investors.
In September, NTEU filed an amicus brief in SEC v. Jarkesy asking the Court to reverse a lower court decision that would weaken the SEC’s ability to enforce securities laws through internal proceedings hearings before administrative law judges.
Our SEC attorneys often prefer using the administrative process for their enforcement actions because it is faster and less onerous than litigating an action in court. In its brief, NTEU notes that post-2008 congressional changes allowed the SEC to heighten its enforcement efforts resulting in recovering $6.4 billion in penalties in fiscal year 2022 alone.
At argument, the justices split on whether the SEC can constitutionally seek money penalties through its administrative proceedings or if it can only seek money penalties in court, where a jury trial would be available.
In the aftermath of the 2008 recession, Congress knew the SEC needed more administrative powers to hold accountable anyone who would defraud investors. NTEU urges the Court to preserve those powers, so that SEC employees can continue to ensure our financial markets are fair for all.
Join FEEA's Scholarship Selection Committee
Discover a rewarding virtual volunteer opportunity with the Federal Employee Education and Assistance Fund (FEEA). NTEU members are invited to join the Scholarship Selection Committee to assist in the selection process of merit-based scholarships to deserving students.
FEEA provides the training you need to review and score applications for the 2024 scholarships. Applications will be available in mid-March of 2024, requires 10-15 hours of your time and can be done from anywhere. This opportunity is perfect for anyone looking to make a positive impact and your contribution can make a real difference in the lives of federal families. Read more
Member Exclusive Webinar on the Future of Long-Term Insurance
United Benefits is hosting a webinar exclusively for NTEU members on Tuesday, Dec. 12, on the future of long-term care insurance now that the Office of Personnel Management has suspended new enrollments in its program. Topics include the financial impact of long-term care, protecting your assets, getting quality care and more. There will be four sessions to accommodate our members’ schedules.
Learn more and register today.
NTEU Chapters Get Into the Holiday Spirit Early
Pictured top, Chapter 73 (IRS Cincinnati) hosted its annual holiday party at the Newport Syndicate, a popular Kentucky venue. National President Doreen Greenwald joined the chapter’s 450 guests at the event, which included a holiday toy drive.
Pictured center, nearly 500 NTEU members and their families attended Chapter 97’s (IRS Fresno Service Center) annual holiday dinner at the Fresno Fairgrounds. Attendees enjoyed a DJ, photo booth, face painting, a craft table for kids and raffles.
Pictured bottom, Chapter 173 (CBP Detroit) hosted its annual Stress Buster event at a local restaurant, bringing in more than 300 guests. The event featured balloon animals, face paint and temporary tattoos for the kids, along with hourly raffle drawings for fun prizes. The chapter provided shuttle service for members to attend who were on the job at the Ambassador Bridge.
Happening at NTEU
What TSP changes are coming soon? Read NTEU Strong.
LAST CHANCE! Open Season ends Monday—don’t leave savings on the table.