Altman v. SEC

This case was before the court on a petition to review the opinion and order of the Commission permanently denying petitioner, an attorney admitted to practice in New York state, the privilege of appearing or practicing before the Commission, pursuant to rule 102(3)(1)(ii) of the Commission's Rules of Practice, and Section 4C of the Securities and Exchange Act of 1934 (Act), 15 U.S.C. 78a et seq. On appeal, petitioner contended that the procedure employed by the Commission was unconstitutional. The court held that the Commission acted within its authority in sanctioning him; petitioner was on notice of his duty to comply with the New York Bar disciplinary rules and the standard of conduct proscribed by Rule 102(3)(1)(ii) and Section 4C of the Act; there was substantial evidence for the Commission's finding that petitioner engaged in intentional improper professional conduct; and the Commission did not abuse its discretion in its choice of sanctioning petitioner. Accordingly, the petition for review was denied. View "Altman v. SEC" on Justia Law