By Matthew Solomon, Alexander Janghorbani and Richard Cipolla ( May 23, 2017, 11:01 AM EDT) -- On Wednesday, the D.C. Circuit will sit en banc to hear arguments regarding the constitutionality of the U.S. Securities and Exchange Commission's administrative tribunals.[1] This is the latest stop in a string of mounting challenges to this forum that seems destined for U.S. Supreme Court review. Over the past couple of years, these tribunals have come under withering attack in the courts, in the press and, most recently, in Congress. There is near-universal agreement among those covering the issue echoing criticisms that the forum unqualifiedly favors the SEC and disadvantages defendants. Such attacks appear to have had an effect. At least for the foreseeable future, the SEC seems inclined to file virtually all litigation in district court. As the D.C. Circuit considers the question, it is an opportune time to step back and consider whether the current strong movement away from using the administrative forum is universally positive for defendants in SEC cases....