Leech Tishman Partners Steven D. Irwin and Brett J. Warren recently served as pro bono amicus curiae counsel to the Investor Choice Advocates Network (“ICAN”) in a significant Pennsylvania Supreme Court case involving the Commonwealth’s enforcement of securities laws.
The case, Goldata Computer Services, Inc. v. Department of Banking and Securities, raises important questions regarding constitutional jury trial rights, administrative enforcement authority, and securities enforcement in Pennsylvania.
On behalf of ICAN, Steve and Brett assisted in preparing and filing an amicus brief supporting the appellants’ position that Article I, Section 6 of the Pennsylvania Constitution guarantees a jury trial when the Pennsylvania Department of Banking and Securities seeks punitive civil penalties through administrative proceedings. The brief argues that constitutional protections should not yield to administrative convenience when significant monetary penalties are at stake.
The matter also arrives in the wake of the U.S. Supreme Court’s decision in SEC v. Jarkesy, which examined the role of juries in certain securities enforcement proceedings and has prompted renewed attention to constitutional limits on administrative enforcement actions.
Beyond the jury trial issue, the amicus brief addresses broader questions involving agency adjudication, due process principles, investor confidence, and the relationship between securities enforcement and capital formation.
ICAN publicly recognized Steve and Brett’s work following the filing, noting their knowledge of Pennsylvania securities regulation and constitutional law and their contributions to this pro bono effort. The Pennsylvania Supreme Court’s eventual decision could provide important guidance on the balance between administrative enforcement authority and constitutional safeguards in Pennsylvania.