The SEC’s increased use of administrative proceedings as the forum for its enforcement actions has come under fire in recent months, with many of the respondents in those cases filing lawsuits arguing (unsuccessfully) that administrative proceedings are actually unconstitutional.

In a speech on Friday SEC Commissioner Michael Piwowar acknowledged that as a matter of “fairness,” the SEC should draft guidelines to establish “which cases are brought in administrative proceedings and which in federal courts.”

For more information, go to SEC’s Piwowar Seeks Guidelines Governing When SEC Will Bring Cases as APs . (Hat tip to Securities Docket for alerting us to the speech.