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Bob Knuth

Bob Knuth

American scenic designer

May 27, 2026

5:50
Oh.
5:51
And then the SEC, you know, when we-- and we've presented the stipulation to the SEC on that appeal saying, "The sole purpose of this is to, for you to now finally issue a final order that is appealable," and the SEC took another two months before they did that.So it was, it's a, an example of how your day in court is dependent on self-regulatory organization and SEC regulators that have demonstrated over time that they don't, you know, appreciate the importance of that right to get to federal court.
6:30
This is, this is not a new issue for the SEC.
6:34
This is an issue that's been identified internally at the SEC repeatedly, and they have, as of th- demonstrated by this case, uh, there's been no solution to the amount of delay that cause it, that, that is embedded into the system.
6:54
That delay is particularly problematic when the pro- the process that leads to the appeal to the SEC is also fundim- fundamentally unfair from my point of view.
7:07
I mean, first of all, you can get charged with violating securities laws, and you don't have a right to a jury trial.
7:15
Now that the Supreme Court in 2024, you know, upheld the right to a jury trial for fraud claims when brought by the SEC, but there's still no ruling that fraud claims brought by self-regulatory organizations requires a jury trial, and there's still no ruling that about all claims brought by the SEC.
8:40
Obviously, that didn't happen here, but how, how would you respond to the idea that the administrative process is designed to be more efficient and quicker than federal court?

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