Skip to main content
pilogo-NEW
Subscribe
  • Subscribe
  • My Account
  • login
  • NEWS
    • Alternatives
    • Consultants
    • Defined Contribution
    • Frontlines
    • Hedge Funds
    • Investing / Portfolio Strategies
    • Money Management
    • Pension Funds
    • People Moves
    • Private Equity
    • Real Estate
    • Searches & Hires News
    • Special Reports
    • H.I.G. Capital promotes 2 to co-president
      Pantheon hires global head for private debt
      Silver Lake reorganizes leadership
      Hamilton Lane promotes 3 to global investment team
    • Mercer appoints global alternatives leader for wealth business
      KPMG offloads pension advisory unit to private equity firm
      Ascensus snaps up Nyhart in latest deal
      Willis Towers Watson exec promoted to lead retirement unit
    • No uptick in hardship withdrawals seen in wake of IRS rule revamp
      Mike Francis
      Plan sponsors jump to meet changes over withdrawals
      Louise Williamson
      Cyberattack potential puts pressure on record keepers
      Michael Hadley
      IRS hardship rules force change to plan documents
    • McGill Challenge winners
      HEC students win C$25,000 for sustainable investment strategy
      Warrick Dunn
      Former professional athletes want to make a different kind of impact
      Nareit diversity winners
      Nareit award winners stress diversity work isn't done yet
      Brian Collins
      Illinois Muni pension fund wins Baldrige quality award
    • Macro hedge fund Stone Milliner shutting down
      James Medeiros
      Hedge fund managers are warming up to custom funds
      Louis Bacon
      Moore Capital's Louis Bacon to quit money management business
      James Yeh
      Citadel promotes James Yeh to president and co-CIO
    • South African state pension fund looks to expand unlisted assets
      CPPIB earmarks $600 million for India infrastructure
      For Australia's super funds, being good does pay
      EU finance ministers endorse ‘green’ taxonomy
    • Apollo Global taps Bain Capital veteran to lead its Japan business
      Managers struggle to understand blockchain technology
      BlackRock's Mark Wiseman departs after failing to disclose relationship
      Boston Partners co-CEO to step down, focus on portfolio management
    • South African state pension fund looks to expand unlisted assets
      Church of England Pensions Board CIO resigns
      NISA Pension Surplus Risk index rises in November
      Ohio Police & Fire terminates fixed-income manager
    • Mercer appoints global alternatives leader for wealth business
      Apollo Global taps Bain Capital veteran to lead its Japan business
      Realdania picks new CIO
      BlackRock's Mark Wiseman departs after failing to disclose relationship
    • Investindustrial raises €3.75 billion with seventh European buyout fund
      Sightway Capital closes first fund with $1.2 billion
      Private equity practices aired at House hearing
      Asia-focused NewQuest closes fourth dedicated secondaries fund at $1 billion
    • Schroders appoints real estate capital partners head
      CBRE acquires U.K. real estate debt investment business Laxfield Capital
      USAA to sell controlling interest in real estate unit
      Cold storage
      A hot time for those seeking the cold
    • Northfield Bancorp taps Principal as record keeper for 401(k) plan
      San Francisco City & County commits $90 million to 3 private equity funds
      CPPIB earmarks $600 million for India infrastructure
      PennSERS sets $150 million for private equity
    • Investment Consultants
      The 2019 Excellence & Innovation Awards
      Top-performing managers Q3 2019
      The world's largest asset managers
  • Data
    • Research Center
    • Searches & Hires Database
    • Searches & Hires News
    • RFPs
    • Charts / Infographics
    • Sponsored Research
    • Trackers
    • Q3 2019 money manager M&A activity summary
      Q3 2019 legal overview report
      Q3 2019 searches and hires overview report
      P&I resources can give a leg up in winning new business
    • Northfield Bancorp taps Principal as record keeper for 401(k) plan
      San Francisco City & County commits $90 million to 3 private equity funds
      CPPIB earmarks $600 million for India infrastructure
      PennSERS sets $150 million for private equity
    • Northfield Bancorp taps Principal as record keeper for 401(k) plan
      San Francisco City & County commits $90 million to 3 private equity funds
      CPPIB earmarks $600 million for India infrastructure
      PennSERS sets $150 million for private equity
    • In-Kind Distribution Management Services (Private Markets) Provider Search
      Defined Contribution Consultant
      Consulting Services
      Technology Firms
    • Only place to go is ... down
      Equity leads DC exodus amid rising markets
      Hedge fund performance fees down 11% in 2019
      Thanksgiving staples cost more in 2019
    • Institutional Investors: Shared Expectations, Divergent Paths
      Global Investor Study 2016
      Workplace Financial Wellness
    • U.S. Endowment Returns Tracker
      Pension Fund Returns Tracker
      Earnings Tracker
      Corporate Pension Contribution Tracker
  • Insights
    • Opinion
    • White Papers
    • Industry Voices
    • Other Views
    • Partner Content
    • Publisher's Update
    • SEC cartoon
      SEC rules need measured response
      High hopes for consistency and guidance from Scalia
      DC West poster
      Financial wellness gets spot at the table
      Times change, and that's a good thing
    • Strengthen Your Core: Flexible Multi-Sector Strategies for a Low-Yield World
      WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
      Automation, lower fees driving institutional interest in factor investing and smart beta strategies
      A Great Time to Be Agnostic?
    • Gerald Cooper
      Commentary: Single-asset deals – a structure benefiting GPs and LPs alike
      Gordon Latter, Timur Kaya Yontar and Frank Benham
      Commentary: Plan sponsors, do you know your credit risk?
      Timothy Boomer
      Commentary: For plan sponsors, derivatives shouldn’t be a dirty word
      Martin Vogt
      Commentary: Renewables investing makes inroads in the Caribbean, Central America
    • Commentary: Revised statement on corporate purpose misses the mark
      Commentary: Stronger partnership needed between shareholders, managers
      Commentary: The associated costs of DB terminations
      Commentary: Support the Butch Lewis Act
    • P&I Content Solutions
      Three conversations DC plan sponsors need to have in 2020
      P&I Content Solutions
      The Changing Face of Emerging Markets Investing
      P&I Content Solutions
      How ICMA-RC Creates Diversity and Investment Talent
      P&I Content Solutions
      Pathways to LDI
    • Everything Must Change
      Tomatoes & Investments
      Baby, it’s hot outside!
  • Multimedia
    • Videos
    • Webinars
    • Polls
    • Slideshows
    • Charts / Infographics
    • Excellence & Innovation Awards 2019: Laura Mittelstaedt
      DC West 2019
      Excellence & Innovation Awards 2019: Lisa Joe
      DC West 2019: Empower Retirement's Doug Peterson on cybersecurity
    • Finding the Positive in Negative Interest Rates
      How to Position Institutional Portfolios to Capitalize on China’s Growth
      Financial Wellness: Gaining an edge with plan sponsors
      Trends in Hedge Fund Investing
    • POLL: Shared values between money managers and plan sponsors
      POLL: Climate change's impact on investing
      POLL: Ultralong-term U.S. Treasury bonds
      POLL: The best benchmark for private equity
    • view gallery
      21 photos
      The world's 20 largest retirement funds
      view gallery
      11 photos
      Top 10 DC money managers
      Top 15 managers by worldwide institutional AUM
      The 1,000 Largest Retirement Funds
    • Only place to go is ... down
      Equity leads DC exodus amid rising markets
  • Events
    • Conferences
    • Webinars
    • East Coast DC Conference
      Fixed Income & Credit
      DC Investment Lineup
      ESG Investing
    • Finding the Positive in Negative Interest Rates
      How to Position Institutional Portfolios to Capitalize on China’s Growth
      Financial Wellness: Gaining an edge with plan sponsors
      Trends in Hedge Fund Investing
  • Careers
  • Research Center
MENU
Breadcrumb
  1. Home
  2. COURTS
June 01, 2016 01:00 AM

Patriarch Partners challenge to SEC administrative proceedings must wait

Hazel Bradford
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    Patriarch Partners and CEO Lynn Tilton lost their bid to challenge the constitutionality of SEC administrative proceedings on Wednesday when the 2nd U.S. Circuit Court of Appeals in New York upheld a lower court’s dismissal of the case until the government completes its internal process.

    After a five-year investigation that began in late 2009, officials at the Securities and Exchange Commission charged the firm in April 2015 with improper asset valuation and performance disclosure with three collateralized loan obligation funds. Patriarch Partners and Ms. Tilton immediately filed a lawsuit in U.S. District Court in New York challenging the SEC administrative proceedings process on constitutional grounds related to how SEC administrative judges are appointed and overseen.

    A divided three-member appeals court agreed with the District Court that “Congress implicitly precluded federal jurisdiction over the appellants’ appointments clause claim while the commission’s proceeding remains pending,” the order said. In a dissenting opinion, Judge Christopher Droney said that the District Court does have subject matter jurisdiction to consider the constitutional challenge.

    Related Articles
    SEC loses another administrative law judge challenge
    Federal judge issues another injunction against SEC administrative proceedings
    SEC administrative overhaul welcomed, but critics seek more
    Supreme Court rejects challenge to SEC's internal judicial process
    SEC enforcements focusing more on financial subsidiaries — report
    Appeals court upholds constitutionality of SEC in-house courts
    Supreme Court denies Patriarch Partners stay request
    Patriarch, Lynn Tilton win dismissal of SEC charges
    Recommended for You
    sponsored content
    Events
     
     
    Advertisement
    White Papers
    A Great Time to Be Agnostic?
    Shedding the Home-Country Bias
    Automation, lower fees driving institutional interest in factor investing and s…
    WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
    Strengthen Your Core: Flexible Multi-Sector Strategies for a Low-Yield World
    View More
    Sponsored Content
    Partner Content
    How Big Data Delivers Solutions to ESG Investors
    How a Multisector Credit Approach Can Lower Risk, Increase Diversification
    ESG Investing Supplement
    Know Your DB Plan’s ‘Persona’ to Help Make the Right Strategy Choices
    Leveling the playing field for public employee retirement security
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    pilogo-NEW
    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    150 N. Michigan Ave.
    Chicago, IL 60601

    Contact Us

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    Pensions & Investments
    Copyright © 1996-2019. Crain Communications, Inc. All Rights Reserved.
    • NEWS
      • Alternatives
      • Consultants
      • Defined Contribution
      • Frontlines
      • Hedge Funds
      • Investing / Portfolio Strategies
      • Money Management
      • Pension Funds
      • People Moves
      • Private Equity
      • Real Estate
      • Searches & Hires News
      • Special Reports
    • Data
      • Research Center
      • Searches & Hires Database
      • Searches & Hires News
      • RFPs
      • Charts / Infographics
      • Sponsored Research
      • Trackers
    • Insights
      • Opinion
      • White Papers
      • Industry Voices
      • Other Views
      • Partner Content
      • Publisher's Update
    • Multimedia
      • Videos
      • Webinars
      • Polls
      • Slideshows
      • Charts / Infographics
    • Events
      • Conferences
      • Webinars
    • Careers
    • Research Center