TheStreet’s Susan Antilla on the Chamber of Commerce

Here.  An excerpt:


[The Chamber] slammed the U.S. Securities and Exchange Commission for sometimes pursuing violators of securities law in the comfort of its in-house courts rather than try the cases in the public courts.

There are "substantial differences" in the processes used in the two forums, the Chamber's Center for Capital Markets Competitiveness wrote on its Web site in July. Those differences can impede the pursuit of "a full, fair and impartial adjudication," according to the Chamber.

A fix suggested by the Chamber is for the SEC to offer enforcement targets the option of having a case heard in federal district court, which sounds fair enough to me.

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But giving choices to litigants appears only to be fair game when it suits the Chamber and its members, who, no doubt, see advantages to using the courts if the SEC is after them, but avoiding the courts if their customers sue.Little surprise that when consumer advocates suggest the public should have the option of going to court when they file complaints — instead of being compelled by a company to arbitrate — the Chamber suddenly thinks it's fine to forego the due process that court provides.

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