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Supreme Court of the United States › Investment Adviser

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Bass, Berry & Sims PLC

Chevron No More: The Impact on Benefit Plans

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On June 28, 2024, the Supreme Court issued its opinion in Loper Bright Enterprises v. Raimondo, Secretary of Commerce and Relentless, Inc. v. Department of Commerce (Loper Bright), overturning Chevron U.S.A. Inc v. Natural...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for July 2024

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SEC Loses in ALJ Case, DOL’s Latest Fiduciary Rule Put on Hold, and SEC Reconsiders AI and Custody Rule Proposals - Welcome to our July Regulatory Roundup, where we provide a quick look at the latest regulatory developments....more

Paul Hastings LLP

Public Company Watch: July 2024

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In the July edition of our Public Company Watch, we cover key issues impacting public companies, including the new Compliance and Disclosure Interpretations related to the cybersecurity disclosure rules and the recent SEC...more

ArentFox Schiff

Fifth Circuit Vacates SEC Private Fund Advisers Rule

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On June 5, the US Court of Appeals for the Fifth Circuit vacated a US Securities and Exchange Commission (SEC) Rule designed to provide investors in private funds — such as private equity, private credit, hedge funds, venture...more

Bennett Jones LLP

U.S. Private Fund Adviser Rules Struck Down

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After much anticipation from the private funds market, earlier this week on June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit (the Court) reached a decision in respect of the litigation challenging the Private...more

Dechert LLP

SEC’s Private Fund Adviser Rule Vacated by the Fifth Circuit

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Yesterday, the United States Court of Appeals for the Fifth Circuit vacated the SEC’s Private Fund Adviser Rule in its entirety. Dechert LLP represented the Chamber of Commerce of the United States of America in filing an...more

Proskauer Rose LLP

Fifth Circuit Strikes Down Private Fund Adviser Rules

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In a significant decision released Wednesday morning, a unanimous three-judge panel for the U.S. Court of Appeals for the Fifth Circuit vacated what have come to be known as the Private Fund Adviser Rules, a set of rules and...more

Paul Hastings LLP

Public Company Watch: April 2024

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In the April edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC’s recent enforcement action regarding “AI Washing,” the SEC’s recent shadow trading case, proposed amendments...more

ArentFox Schiff

Investigations Newsletter: DOJ Enters Into DPAs with Former Deerfield Traders and CMS Consultant

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DOJ Enters Into DPAs with Former Deerfield Traders and CMS Consultant - On July 24, 2023, the US Department of Justice (DOJ) entered into deferred prosecution agreements with Theodore Huber and Robert Olan, former traders...more

Burr & Forman

Jarkesy Gets His Day: SCOTUS to Review SEC ALJs

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On June 20, 2023, the Supreme Court granted certiorari to review three questions about the Securities and Exchange Commission’s (SEC’s) administrative courts...more

Foley Hoag LLP - White Collar Law &...

Will Stakeholder Objections and Legal Uncertainty Slow an ESG Revolution?

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According to the Securities & Exchange Commission, its proposed revisions to SEC regulations regarding climate change disclosures in May 2022 were intended to provide investors with consistent and reliable information...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for May 2022

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In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources....more

Allen Matkins

If The SEC Favors Full Disclosure, Why Does It Have A "Gag Rule"?

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In 1972, the Securities and Exchange Commission announced its "policy not to permit a defendant or respondent to consent to a judgment or order that imposes a sanction while denying the allegations in the complaint or order...more

Faegre Drinker Biddle & Reath LLP

SEC Disgorgement Claim Challenged After Supreme Court’s Decision in Liu

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The SEC’s disgorgement request in a litigated proceeding in federal district court is being challenged in the wake of the Supreme Court’s 2020 decision in Liu v. SEC, which limited how much the agency can seek in...more

Foley & Lardner LLP

Scalping as Fraud But On Who?

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The past has a way of repeating itself. In 1909, the New York Supreme Court declined to enforce a contract to manipulate stock prices (which was successful), with payments due to a publisher of an investment newsletter...more

Carlton Fields

Supreme Court Shuts Door on Defined-Benefit Plan Participants’ ERISA Suits

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In a recent 5–4 decision, the U.S. Supreme Court shut the door on defined-benefit plan participants’ standing to sue under the Employee Retirement Income Security Act of 1974 (ERISA)....more

Goodwin

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

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In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Robins Kaplan LLP

Financial Daily Dose 6.30.2020 | Top Story: Supreme Court Allows President to Fire CFPB Director, Lets Agency Remain

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By a 5-4 margin, the Supreme Court has ordered the restructuring of the Consumer Financial Protection Bureau, “ruling the agency’s structure was unconstitutional because its director held too much unchecked power.” The fix,...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Kramer Levin Naftalis & Frankel LLP

Supreme Court Severely Restricts Standing to Sue for Breach of ERISA Fiduciary Duty

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The U.S. Supreme Court (in Thole v. U.S. Bank N.A., available here) recently held that participants in a defined benefit pension plan who have been paid all their monthly pension benefits to date lack standing to sue for...more

Epstein Becker & Green

Supreme Court Holds Defined Benefit Plan Participants Lack Standing to Sue Over Allegedly Imprudent Investment Decisions

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In a recent 5-4 decision, the Supreme Court, in Thole v. U.S. Bank N.A., 590 U.S. __ (2020), held that participants in defined benefit pension plans lack standing to sue plan fiduciaries for allegedly imprudent plan...more

Verrill

Supreme Court Holds Pension Plan Participants Lack Standing to Sue Fiduciaries for Breach of Duties

Verrill on

In Thole v. U.S. Bank, a 5-4 Supreme Court decision issued on June 1, the Court held that retired participants in a defined benefit pension plan lack constitutional standing to sue the plan fiduciaries for alleged breach of...more

Dechert LLP

For Whom the Bell Thole(s) – Supreme Court Holds that Fiduciaries Under ERISA-Covered Pension Plans May Be Constitutionally...

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Last week, the U.S. Supreme Court ruled on June 1, 2020 in Thole v. U.S. Bank that a participant in a defined benefit (“DB”) plan is constitutionally barred from bringing a fiduciary-breach (or similar) claim under the...more

Nossaman LLP

ERISA Defined Benefit Plan Members Lack Standing to Bring Fiduciary Claims

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The United States Supreme Court recently reviewed the federal constitutional standing requirements for members of a private defined-benefit pension plan who alleged that the plan trustees violated their fiduciary duties. ...more

A&O Shearman

U.S. Supreme Court Holds That ERISA Plan Participants Must Demonstrate Actual Or Imminent Risk Of Loss To Establish Article III...

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On June 1, 2020, the United States Supreme Court, in an opinion by Justice Kavanaugh and joined by Chief Justice Roberts and Justices Alito and Gorsuch, held that plaintiffs—participants of a defined-benefit pension...more

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