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13 J. Bus. & Tech. L. Proxy 1 (2019)

handle is hein.journals/jbtprxy13 and id is 1 raw text is: 







Lucia v. SEC: The Ambiguity of the
  Appointments Clause Continues,
      Sending Tremors Coursing
   Throughout the Administrative
                      State
               SAMUEL A. SCHWARTZ*©

      In Lucia v. SEC,1 the Supreme Court considered
whether  the  Appointments  Clause2  applies to  the
administrative law judges (ALJs) of the Securities and
Exchange Commission (SEC or Commission). Reversing
the decision below, the Court concluded that the ALJs are
inferior officers subject to the Appointments Clause.3
Properly understanding the Court's precedent in Freytag,4
the Court correctly applied it to the SEC ALJs.5 However, the
Court's narrow holding failed to clarify the meaning of
inferior officers under the Appointments Clause, leaving a
trail of uncertainty in its wake.6


* J.D. Candidate, 2020, University of Maryland Francis King Carey
School of Law. The author wishes to thank all of those that made this
paper possible-you know who you are.
0 Samuel A. Schwartz 2019.
1 138 S. Ct. 2044 (2018).
2 U.S. CONST. art. II, § 2, cl. 2.
3 Lucia v. SEC, 138 S. Ct. 2044, 2050 (2018).
4 Freytag v. Comm'r, 501 U.S. 868 (1991).
5 See infra Part IV.A.
6 See infra Part IV.B.


Journal of Business & Technology Law Proxy

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