Today's Wall Street Journal story SEC's Allegiances Are Put to Test by Kara Scannell (pd. subs. req'd) explains an important behind-the-scenes investor protection battle that will affect Enron and other investor litigation. Will the SEC under Chairman Cox file an amicus brief to the Supreme Court that continues to support an investor's right to sue a bank or lawyer or accountant that has directly participated in a company's scheme to defraud investors? (The legal issues and circuit splits leading to the case are explained here .) In pre-Cox cases, the SEC had filed amicus briefs supporting plaintiffs on scheme liability. But the Cox SEC's brief in another recent case, where it supported raising already-high pleading standards for plaintiffs, worries investor rights advocates. Is a reversal from investor champion to fraudster champion next for the SEC?