In the near term, the decision may have little impact on SEC enforcement because the agency hasn't pursued contested actions seeking penalties in its administrative forum. But long term, requiring the SEC to bring enforcement actions in federal court will afford defendants access to independent judges and juries, the rules of evidence and civil procedure, and other procedural protections. The Court's decision could have broader implications for other agencies and other theories of liability. Many agencies have in-house courts that adjudicate alleged violations of the statutes they implement. If an agency seeks monetary penalties on a ground that resembles a traditional action at common law?"such as a fraud or negligence claim?"the Seventh Amendment presumptively requires the agency to proceed in federal court.