June 8, 2022

SEC in Constitutional Danger Zone Following Several Recent Decisions

The Texas Lawbook
Rich Phillips | Brandon Len King

Litigation attorneys Scott Mascianica, Rich Phillips, Danny Athenour and Brandon King co-authored an article in The Texas Lawbook about the constitutional danger the U.S. Securities and Exchange Commission (SEC) is in following several recent decisions. The U.S. Supreme Court agreed to hear a case seeking broader federal jurisdiction for constitutional challenges, the U.S. Court of Appeals for the Fifth Circuit found multiple constitutional infirmities in SEC practice and procedures, and a petition for certiorari was filed seeking to end the SEC’s longstanding “gag order” requirement for settlements.

The authors discuss the significant impact these cases could have on the SEC's enforcement approach as well as how other federal agencies handle administrative proceedings. A Holland & Knight Client Alert on this topic can be found here

READ: SEC in Constitutional Danger Following Several Recent Decisions

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