Schulte partner John Nowak quoted in Private Equity Law Report 

Schulte Roth & Zabel partner John Nowak was recently interviewed by Private Equity Law Report for the article, "Forecasting Potential Outcomes in SEC v. Jarkesy Based on Recent Oral Arguments," in which John shared his perspectives on the case and the potential implications of its ruling.  

Although Jarkesy raised various issues with the Supreme Court, John feels Jarkesy’s argument involving the Seventh Amendment right to jury trial will receive the most attention by the Court. He stated, "There was significant focus  ̶  and I think disagreement  ̶  on the scope and approach to the Seventh Amendment and whether individuals have a right to a jury trial in this context." 

While the matter deals directly with the SEC, a broad ruling by the Court could potentially impact several other federal agencies that use the administrative process, including the Social Security Administration, the Commodity Futures Trading Commission, the Federal Trade Commission and the Consumer Financial Protection Bureau. "There is some concern that an expansive opinion would significantly impact other regulatory agencies, so the Court may decide to avoid that by narrowing its focus on, for example, the SEC’s anti-fraud provisions and the Commission’s ability to seek penalties as to those provisions in an administrative proceeding," John said.