Public Statements & Remarks

Statement of Commissioner Caroline D. Pham on SEC v. Jarkesy

June 28, 2024

Washington, D.C. — Commodity Futures Trading Commission (CFTC) Commissioner Caroline D. Pham released the following statement on the U.S. Supreme Court decision in SEC v. Jarkesy

“As I’ve said before, ‘administrative proceedings, where the agency is the prosecutor, judge, and jury, lack the checks-and-balances imposed by separation of powers between the executive and judicial branches of government to ensure a fair hearing and due process.’ The Court’s opinion explicitly recognizes this truism, and reinforces the law of the land. There’s more work to be done at the Commission to ensure that our adjudications and settlements can withstand scrutiny, particularly when they deprive others of property without appropriate due process and in violation of the Constitution. I’ll continue pushing to bring greater accountability and transparency to our administrative proceedings so that our stakeholders have the utmost confidence in the CFTC’s actions to promote safe and fair markets.”