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Supreme Court Ends Chevron Deference Among String of Decisions Limiting Agency Power

In Loper Bright Enterprises v. Raimondo, the Supreme Court overruled the doctrine of Chevron deference but made clear that cases relying on Chevron’s interpretive framework remain good law subject to statutory stare decisis....more

Showdown at the Fifth Circuit Corral—Panel Rules SEC Home-Court Proceedings Violate Multiple Constitutional Provisions

The United States Court of Appeals for the Fifth Circuit issued a major decision on May 18, 2022 holding Securities and Exchange Commission (SEC or Commission) administrative adjudications unconstitutional on multiple...more

Supreme Court Holds That SEC’s Administrative Law Judges Were Unconstitutionally Appointed

The U.S. Supreme Court recently held, in Lucia v. SEC,1 that Administrative Law Judges (ALJs) for the U.S. Securities and Exchange Commission (SEC or Commission) are officers of the United States who must be appointed...more

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