U.S. judge criticizes SEC use of in house court for fraud cases
 

U.S. judge criticizes SEC use of in house court for fraud cases

A Manhattan federal judge who gained prominence by rejecting U.S. Securities and Exchange Commission bank settlements urged the agency on Wednesday to reconsider becoming "a law unto itself" by increasingly bringing cases in-house instead of in court.

U.S. District Judge Jed Rakoff in a speech warned the SEC's growing use of administrative proceedings to handle securities fraud cases, such as insider trading, posed "dangers" to the impartial development of the law. Read more on Reuters.