Constitutional Law General Business Securities

Read Constitutional Law updates, alerts, news, and analysis from leading lawyers and law firms:
News & Analysis as of

Judge Berman Deflates SEC’s ALJ Appointment Process

United States District Court Judge Richard M. Berman of the Southern District of New York has been making headlines in recent weeks as he presides over the highly publicized case between the National Football League (“NFL”)...more

SEC’s Conflict Mineral Rule Disclosure Requirement Unconstitutional Again

The SEC’s conflict mineral disclosure rule, enacted under Dodd-Frank, is a continuing source of controversy. An initial challenge to the rules was brought by the National Association of Manufactures. That challenge was...more

Court of Appeals Confirms that Conflict Minerals Reporting Requirement is Unconstitutional

On August 18, 2015, the U.S. Court of Appeals for the D.C. Circuit reaffirmed its April 2014 decision in NAM v. SEC, where it held that certain portions of the SEC’s conflict minerals reporting requirements unconstitutionally...more

D.C. Circuit Reaffirms Previous Conflict Minerals Decision: Disclosure Requirement Violates First Amendment

In a 2-1 decision, a three-judge panel from the U.S. Court of Appeals for the D.C. Circuit reaffirmed its previous decision striking down a narrow portion of the U.S. Securities and Exchange Commission’s (“SEC”) conflict...more

Conflict Minerals Rule Still Unconstitutional After Rehearing

The United States Court of Appeals for the District of Columbia issued its decision on the conflict minerals rule after a rehearing. In National Association of Manufacturers, et al, v. SEC, the Court adhered to its original...more

Second Federal Judge Enjoins “Likely Unconstitutional” SEC Admin Actions

Manhattan federal Judge Richard Berman yesterday (August 12) issued a preliminary injunction halting the SEC’s administrative action against former S&P executive Barbara Duka, holding the SEC’s in-house courts were “likely...more

SDNY Enjoins SEC Administrative Proceeding

In Duka v. SEC, the District Court for the Southern District of New York entered a preliminary injunction to enjoin an SEC administrative proceeding because the proceeding is “likely unconstitutional.” The court gave the same...more

Blog: New Study Gives Mixed Reviews To Companies Filing Conflict Minerals Reports

A new study on conflict minerals compliance from Tulane University and Assent Compliance, a compliance software and services firm, revealed that, about 90% of filers of conflict minerals reports indicated that they were...more

Second Circuit: Facebook Shareholders Lack Standing for Derivative Suits Challenging Pre-IPO Statements

Earlier this week, a U.S. Court of Appeals for the Second Circuit opinion reinforced that federal courts take standing in derivative actions quite seriously, particular when the alleged director misconduct predated the IPO....more

Delaware Expands Jurisdiction Over Directors

A recent but little-known decision by a Delaware court may have substantially expanded the state's jurisdiction over the directors of a Delaware corporation. Delaware has long had a director-consent-to-service statute: 10...more

The SEC’s Clawback Proposal – An Unconstitutional Taking?

In proposing incentive compensation clawback rules, the Securities and Exchange Commission studiously ignored any constitutional restraints on its actions.  Buried in the 198-page proposal is this chilling assertion...more

One Step Forward and One Step Back: Southern District of New York Denies Motion to Enjoin SEC’s Administrative Proceedings,...

Last week, the SEC scored a victory in its battle to defend the use of administrative proceedings in enforcement actions seeking penalties against unregulated entities or persons. On June 30, 2015, Southern District of New...more

SEC Enforcement Defendants Descend on Georgia for Judicial Relief from the SEC’s Allegedly Unconstitutional In-House Tribunal

It is often hot in Georgia this time of year. In one particular Georgia federal court, the U.S. Securities and Exchange Commission (SEC) has been feeling some of that heat on an issue of significant interest to subjects of...more

SEC Provides Guidance on Definition of “Spouse” and “Marriage”

The SEC has provided guidance on the definition of “spouse” and “marriage” in the wake of United States v Windsor. That case held Section 3 of the Defense of Marriage Act was unconstitutional. As a result the SEC will...more

Blog: This Year’s Conflict Minerals Filings Show Some Improvement, According To Early Review

An early review of conflict minerals filings for the 2014 reporting period shows improvement in “detail, clarity and quality,” according to this article in BNA. As reported by Elm Sustainability Partners, a conflict minerals...more

Georgia District Court Rules SEC’s Use of Administrative Law Judges In Insider Trading Case “Likely Unconstitutional”

On June 8, in Hill v. Securities And Exchange Commission, Civ. Action No. 1:15-CV-1801-LMM, a Georgia federal judge ruled that the Securities and Exchange Commission’s use of an in-house Administrative Law Judge (“ALJ”) to...more

SEC Has No Plans to Change the Way Administrative Judges Are Appointed (For Now)

The United States District Court for the Northern District of Georgia, Atlanta Division, entered a preliminary injunction preventing the SEC from conducting an administrative proceeding in an insider trading matter. In the...more

SEC to Appeal Preliminary Injunction Blocking Administrative Proceeding

The United States District Court for the Northern District of Georgia, Atlanta Division, entered a preliminary injunction preventing the SEC from conducting an administrative proceeding in an insider trading matter. The...more

District Judge Takes Jab at SEC’s Home-Court Advantage in Administrative Proceedings, But Defense Bar May Not Have a Slam Dunk

The defense bar recently won a significant victory in the battle to challenge the SEC’s expanded use of administrative proceedings, following the 2010 enactment of the Dodd-Frank Act, to seek penalties against unregulated...more

Bridging the Week - June 2015 #3

UK Fair and Effective Markets Review Calls for Upping the Standards in UK and Global Fixed Income, Currency and Commodity Markets: The Fair and Effective Markets Review issued 21 recommendations to “restore trust” in...more

New York’s Highest Court Considers Constitutionality of Retroactive Taxing Statute

Questioning the constitutionality of state personal income tax provisions seems to be all the rage these days. On the heels of the Supreme Court’s decision in Comptroller v. Wynne discussed in our recent blog post, New York’s...more

Tone-Deaf SEC Asks ALJ in Secret Whether Agency Pressured Him

For over a year, critics have questioned the fundamental fairness of the SEC’s administrative forum, including whether the Agency should act as prosecutor, judge and jury. Even as criticisms mount, the Commission Staff...more

Court Enters Preliminary Injunction Against SEC Administrative Proceeding

The United States District Court for the Northern District of Georgia, Atlanta Division, has entered a preliminary injunction preventing the SEC from conducting an administrative proceeding in an insider trading matter. The...more

Northstar v. Schwab: The Ninth Circuit’s End Run Around Derivative Lawsuits in the Mutual Fund Context

It is well recognized that only investors have standing to sue a mutual fund on behalf of a class of investors and that a fiduciary duty claim accusing fund trustees of mismanagement is the property of the fund, and not of...more

Forex trading probes: what is the legal position of the individual?

Forex trading cases are back in the headlines after record settlements by a group of banks with UK and U.S. authorities. The best coverage is in the FT....more

136 Results
|
View per page
Page: of 6

Follow Constitutional Law Updates on:

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×