Yesterday’s Supreme Court decision in Securities and Exchange Commission v. Jarkesy cuts back on SEC administrative courts, continues a line of Supreme Court decisions pushing back on aspects of SEC enforcement, and raises important questions going forward. Read our WMHW Client Alert authored by Barry Rashkover, Paul W. Ryan, and Kristen Lasak for more.
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Now the challenges to CFPB rulemakings will need to focus (more) on merit and rule technicalities than Bureau Constitutionality.
Delighted to see CFPB's constitutionality and status confirmed by the Supreme Court. The Bureau was created by Congress to protect consumers, and we continue to need its oversight in consumer financial services. Supreme Court rejects broad challenge to consumer watchdog CFPB https://lnkd.in/ewrvEr8E
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Here's our review of a significant U.S. Supreme Court decision, SEC v. Jarkesy, prohibiting the SEC's use of its in-house administrative proceedings for civil penalty cases. The Court says the Seventh Amendment requires these cases be decided by a jury in federal court. Combined with the Court's decision in another case the same day overturning 40-year old precedent that required federal courts to defer to the statutory interpretation of federal administrative agencies, it appears there has been a sea change in the reach and authority of federal administrative agencies in the U.S. #constitutionallaw #securitieslaw #administrativeprocedure
On June 28, 2024, the Supreme Court issued a significant decision that could have wide-ranging consequences for administrative agency enforcement actions. In Securities and Exchange Commission v. Jarkesy, the Court held that the SEC cannot impose civil penalties for violations of the securities laws’ antifraud provisions through in-house administrative proceedings. Read analysis by Matthew Allen and Erika Giroux >>> https://bit.ly/3VGVJ6u
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The US Supreme Court recently affirmed the constitutionality of the Consumer Financial Protection Bureau's funding structure. This reverses a contentious 2022 decision by the Fifth Circuit. Our alert provides an overview of the ruling and its key takeaways for the #FinancialServices industry. #SCOTUS #CFPB
What is next for the CFPB after the Supreme Court’s decision affirming its constitutionality?
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The US Supreme Court recently affirmed the constitutionality of the Consumer Financial Protection Bureau's funding structure. This reverses a contentious 2022 decision by the Fifth Circuit. Our alert provides an overview of the ruling and its key takeaways for the #FinancialServices industry. #SCOTUS #CFPB
What is next for the CFPB after the Supreme Court’s decision affirming its constitutionality?
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The US Supreme Court recently affirmed the constitutionality of the Consumer Financial Protection Bureau's funding structure. This reverses a contentious 2022 decision by the Fifth Circuit. Our alert provides an overview of the ruling and its key takeaways for the #FinancialServices industry. #SCOTUS #CFPB
What is next for the CFPB after the Supreme Court’s decision affirming its constitutionality?
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The US Court of Appeals has ruled against the SEC’s efforts to bring more uniformity and transparency to data provided to investors in private funds. The SEC, which the court decided had overstepped in its ruling, is exploring next steps. Read more about the ruling here: https://lnkd.in/gRaJSCUU #SEC #FeeDisclosure #PrivateEquity #VentureCapital #FinancialNews
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it is crucial for lawmakers to focus on regulations in order to foster its growth and protect investors. This was the message delivered by a former regulator to US lawmakers. Read more in depth here: https://buff.ly/3TwBB7x
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As the Supreme Court listens to oral argument this morning in the case of SEC v. Jarkesy, here are some of our articles covering this significant case: Agency Power and Adjudication: The Government Seeks Supreme Court Review of Jarkesy v. SEC: https://lnkd.in/eavqJxgX A Jury of Your Peers: Fifth Circuit Ruling in Jarkesy v. SEC Broadly Expands the Right to a Jury Trial for SEC Actions: https://lnkd.in/eDQ-4gDx Fifth Circuit Decision Could Hamstring SEC Enforcement Abilities: https://lnkd.in/gdgyYe6R
Agency Power and Adjudication: The Government Seeks Supreme Court Review of Jarkesy v. SEC
hflawreport.com
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Partner (Solicitor) at Bexley Beaumont | helping to resolve and manage commercial disputes
Where the losing party indicates a risk that their assets are being dissipated, freezing orders are useful to ensure a judgment can be enforced. But, we cannot be entirely reliant upon a freezing order being granted, as the court has full discretion. You can read more about this in my recent blog post disputeadviser.co.uk https://lnkd.in/eAqCiGzT (opens in a new tab)
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The U.S. Supreme Court has issued a unanimous decision holding that pure omissions are not actionable under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) thereunder. The Court reasoned that the rule only prohibits omitting a material fact necessary “to make the statements made . . . not misleading.” Partners Todd Fishman, Ken Rivlin, Eugene Ingoglia, David Flechner, and associate Elizabeth Sullivan, take a closer look at the ruling, discuss key takeaways and highlight the important role the judiciary plays in setting the scope and bounds of federal securities laws. Read more here: https://ow.ly/vbKI50RgIBS #SEC #SCOTUS
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