{"id":5736,"date":"2015-02-23T00:00:00","date_gmt":"2015-02-23T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/02\/gray_financial_group_sues_the"},"modified":"2022-05-06T12:21:07","modified_gmt":"2022-05-06T17:21:07","slug":"gray-financial-group-sues-the","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/","title":{"rendered":"Gray Financial Group Sues the SEC for Using Administrative Law Judges"},"content":{"rendered":"

Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones when trying enforcement cases. The lawsuit contends that the regulator\u2019s administrative proceedings are a violation of the U.S. Constitution because the SEC judges are distanced from presidential supervision by at least two layers of tenure protection. The investment firm wants to block the Commission\u2019s administrative action against it.<\/p>\n

The regulator is probing whether the firm violated Georgia law when it invested in alternative investment for public pension funds in 2012. The plaintiff\u2019s complaint said that the SEC sent out a Wells notice in 2014 noting that it found that Gray Financial did violate specific federal securities laws. It also said that even though there was no proof of related investment losses, the agency had started a confidential probe into the company.<\/p>\n

The investment firm said that even though no formal charges were ever made, the nature of the probe was made public, which, it claims, compelled certain clients to terminate their business relationships with Gray Financial. This led to a decline in firm revenue.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones when trying enforcement cases. The lawsuit contends that the regulator\u2019s administrative proceedings are a violation of the U.S. Constitution because the SEC judges are distanced from presidential supervision by at least […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3740],"tags":[],"class_list":["post-5736","post","type-post","status-publish","format-standard","hentry","category-miscellaneous"],"yoast_head":"\nGray Financial Group Sues the SEC for Using Administrative Law Judges — Investor Lawyers Blog — February 23, 2015<\/title>\n<meta name=\"description\" content=\"Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones — February 23, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gray Financial Group Sues the SEC for Using Administrative Law Judges — Investor Lawyers Blog — February 23, 2015\" \/>\n<meta name=\"twitter:description\" content=\"Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones — February 23, 2015\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gray Financial Group Sues the SEC for Using Administrative Law Judges — Investor Lawyers Blog — February 23, 2015","description":"Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones — February 23, 2015","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/","twitter_card":"summary_large_image","twitter_title":"Gray Financial Group Sues the SEC for Using Administrative Law Judges — Investor Lawyers Blog — February 23, 2015","twitter_description":"Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones — February 23, 2015","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Gray Financial Group Sues the SEC for Using Administrative Law Judges","datePublished":"2015-02-23T06:00:00+00:00","dateModified":"2022-05-06T17:21:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/"},"wordCount":448,"articleSection":["Miscellaneous"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/","url":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/","name":"Gray Financial Group Sues the SEC for Using Administrative Law Judges — Investor Lawyers Blog — February 23, 2015","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2015-02-23T06:00:00+00:00","dateModified":"2022-05-06T17:21:07+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Gray Financial Group Inc. is suing the Securities Exchange Commission over the agency\u2019s use of its own administrative law judges instead of federal ones — February 23, 2015","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/gray-financial-group-sues-the\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Gray Financial Group Sues the SEC for Using Administrative Law Judges"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1uw","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=5736"}],"version-history":[{"count":7,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5736\/revisions"}],"predecessor-version":[{"id":27598,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5736\/revisions\/27598"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=5736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=5736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=5736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}