An SEC petition currently before the Supreme Court of the United States (Court) has the potential to entirely reshape the enforcement landscape, with implications for all administrative enforcement proceedings, not just the SEC’s. The SEC has petitioned the Court to reverse the U.S. Court of Appeals for the Fifth Circuit’s May 2022 decision in Jarkesy v. SEC, which held, on three grounds, that SEC enforcement proceedings before an administrative law judge were unconstitutional. In this guest article, MoloLamken attorneys summarize the Fifth Circuit’s decision, examine the SEC’s pending petition before the Court and forecast the decision’s impact on future SEC enforcement efforts if the Court takes the case. For additional commentary from MoloLamken attorneys, see “A Jury of Your Peers: Fifth Circuit Ruling in Jarkesy v. SEC Broadly Expands the Right to a Jury Trial for SEC Actions” (Sep. 28, 2022).