Houston hedge fund manager George Jarkesy Jr. on Tuesday lost his bid to stop an SEC administrative proceeding on constitutional grounds when a federal appeals court dismissed the case. Ruling for a three-judge panel, U.S. Court of Appeals for the District of Columbia Circuit Judge Padmanabhan “Sri” Srinivasan agreed with the refusal of the District Court in Washington to stay SEC proceedings against Mr. Jarkesy, saying that he must finish that process first before seeking judicial review. “We hold that the securities laws provide an exclusive avenue for judicial review that (Mr.) Jarkesy may not bypass by filing suit in...