5th Circuit Again Adopts Restrictive View of Exchange Act Purposes and SEC Regulatory Power
By EsqSocial Corporation 24/12/24
On December 11, 2024, the 5th Circuit issued another important opinion (for the third time this year) requiring that an administrative agency's rules fit squarely within the statutory scheme that empowers the agency to act. Agencies often take expansive views of their powers, sometimes taking the initiative to fill a perceived gap or advance a worthy and commendable public policy, even if it is unclear that Congress authorized them to do so......
By: Davis Wright Tremaine LLP