Securities Exchange Fees – SEC – Lack of Jurisdiction

By: Derek Hawkins//May 21, 2018//

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7^th Circuit Court of Appeals

Case Name: Chicago Board Options Exchange, Inc., et al. v. Securities and Exchange Commission, et al.

Case No.: 16-3423

Officials: BAUER, FLAUM, and MANION, Circuit Judges.

Focus: Securities Exchange Fees – SEC – Lack of Jurisdiction

In Citadel Securities, LLC v. Chicago Board Options Exchange, Inc., we held that “the district court did not abuse its discretion in dismissing [the] case [of certain securities firms] for failure to exhaust administrative remedies.” 808 F.3d 694, 701 (7th Cir. 2015) [hereinafter Citadel I]. Following that decision, the securities firms filed a petition before the Securities and Exchange Commission (“SEC” or “Commission”) seeking damages from various securities exchanges for improper fees. The SEC dismissed that petition for lack of jurisdiction. The securities exchanges now appeal that order. We affirm.

Affirmed

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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