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Fifth Circuit Vacates SEC Private Fund Adviser Rules

The U.S. Court of Appeals for the Fifth Circuit held that the new SEC regulation of private fund advisers exceeded the agency's statutory authority....more

U.S. Supreme Court Paves the Way for Challenging Agencies' Structure in Federal District Court

The U.S. Supreme Court holds that district courts have jurisdiction to hear constitutional challenges to the structure of Federal Trade Commission ("FTC") and Securities and Exchange Commission ("SEC") administrative...more

Fifth Circuit Finds SEC Administrative Proceedings Unconstitutional

On May 18, 2022, the Court of Appeals for the Fifth Circuit ruled that key aspects of the SEC's in-house enforcement regime for securities fraud cases were unconstitutional. The decision, Jarkesy v. SEC, has significant...more

SEC Approves New Board Diversity Disclosure Requirements for Nasdaq-Listed Companies

The Board Diversity Proposal generally requires each Nasdaq-listed company "to have, or explain why it does not have, at least two members of its board of directors who are Diverse," defined as at least one director who...more

White House Instructs Agencies to Analyze and Mitigate "Climate-Related Financial Risk"

Executive Order directs whole-of-government approach and broad regulatory effort. On May 20, 2021, President Biden issued an Executive Order ("Order") directing agencies to analyze and mitigate "climate-related financial...more

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