"Pursuant to Commission Rule of Practice 411,1 the petition of BioElectronics Corp., IBEX, LLC, St. John’s, LLC, Andrew J. Whelan, and Kelly A. Whelan, CPA, for review of the administrative law judge's initial decision2 is granted. Pursuant to Rule of Practice 411(d),3 the Commission will determine what sanctions, if any, are appropriate in this matter."
It has been nearly 10 months since BIEL filed for a review of the ALJ's decision and what have we heard from the SEC, crickets, nada, bupkis.
The reason is that the SEC has been neutered by the US 10th Circuit Court of Appeals who said that the SEC's AP System is Unconstitutional. Do a little research by googling "SEC Administrative Proceedings Judges".
Not only are the Judges Unconstitutional but the whole AP process violates the protections guaranteed to US citizens when being accused of a crime by the Federal Government.
The SEC solution was to belatedly ratify the SEC Judges. This is the SEC saying, OK you caught us, we have been violating the Constitution for the last 9 years, but this "Ratify the Judges" makes everything OK, right?
No it does not. And the Dodd-Frank Bill, which the SEC uses to justify its AP system, is under extreme pressure. The US House of Representatives recently voted to gut the Bill and replace it with the Financial Choice Act.
The SEC set up a "Quick and Dirty" AP Justice System to rapidly collect convictions and fines. The Federal Courts have finally said enough, this violates Due Process and the Constitution. The SEC is freaked out over the possibility of thousands of AP convictions being reversed.
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