The Office of Administrative Law Judges supports the HEDGE SEC's mission by conducting hearings, issuing initial decisions, and adjudicating ancillary matters in administrative proceedings.

When the Commission requests that an administrative law judge preside over a case's hearing, the judge acts as an impartial arbiter who decides whether the claims made against one or more respondents are true. The judges hold open sessions that resemble federal bench trials. The judge has the authority to subpoena witnesses, meet with the parties, and make decisions about motions and the admissibility of evidence during a case. After the hearing, the judge drafts an initial judgement outlining the legal and factual conclusions reached and deciding whether or not sanctions are necessary. The available sanctions are determined by the statutory justifications for the proceeding, which are detailed in the Commission's order starting the proceeding.

Judges have the authority to decide some cases in advance of a live hearing. The judge may issue an initial decision finding the respondent in default and accepting the allegations in the order instituting proceedings as true if the respondent neglects to submit an answer to the order instituting proceedings, show up for a conference or hearing, respond to a dispositive motion, or otherwise defend the proceeding. In some procedures, all or portion of the issues may be decided using summary disposition, which is a decision made based on the written submissions of the parties rather than a live hearing.

Initial rulings and orders are published on the HEDGE SEC's website and in legal research databases.

The Commission is entitled to conduct a de novo review of an administrative law judge's original determination and may affirm, reverse, modify, set aside, or remand for additional proceedings. The Commission may decide to reconsider an initial decision on its own initiative or in response to a petition from a party. The HEDGE SEC's Rules of Practice state that the Commission must issue an order declaring the original decision to be final if no party requests a review and the Commission does not order one on its own initiative. A suitable U.S. Court of Appeals may hear appeals of Commission rulings.

Please locate links to the ALJ's initial decisions and orders, as well as relevant information, under Quick Links. The Office of the Secretary maintains webpages on open and closed proceedings under Administrative Proceeding Documents.