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Is SEC's home court advantage legal?

When the Securities and Exchange Commission brought an enforcement action against Atlanta-based investment adviser Timbervest LLC, in 2013, it accused the firm and its principals of improperly concealing brokerage fees relating to timberland property transactions with clients. No doubt Timbervest and its principals noted with concern the SEC's choice of venue: The SEC initiated an administrative proceeding in front of an administrative law judge rather than filing a complaint in federal court in front of an Article III judge.

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