By: Derek Hawkins//August 31, 2015//
By: Derek Hawkins//August 31, 2015//
Civil
7th Circuit Court of Appeals
Officials: BAUER, ROVNER, and HAMILTON, Circuit Judges
Subject Matter Jurisdiction – Administrative Enforcement Proceeding
No. 15-1511 Laurie A. Bebo v. Securities and Exchange Commission
Appellant attempt to circumvent an administrative and judicial review by filing suit in federal court to question the authority of the SEC to conduct a de novo review fails.
“At any rate, this unsettled issue does not affect the outcome in this case. We think the most critical thread in the case law is the first Free Enterprise Fund factor: whether the plaintiff will be able to receive meaningful judicial review without access to the district courts. The second and third Free Enterprise Fund factors, although relevant to that determination, are not controlling, for the Supreme Court has never said that any of them are sufficient conditions to bring suit in federal district court under § 1331. We therefore assume for purposes of argument that Bebo’s claims are “wholly collateral” to the administrative review scheme. Even if we give Bebo the benefit of that assumption, we think it is “fairly discernible” that Congress intended Bebo to proceed exclusively through the statutory review scheme established by § 78y because that scheme provides for meaningful judicial review in “an Article III court fully competent to adjudicate petitioners’ claims.” See Elgin, 132 S. Ct. at 2137.”
Affirmed