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Administrative Procedure Act Securities Regulation

Mintz

SEC Commissioner Uyeda Suggests the SEC Will Not Rescind the Climate Disclosure Rule

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SEC Commissioner Uyeda, one of the Republican appointees to the Securities & Exchange Commission, recently stated (in remarks at the 2025 “SEC Speaks” Conference) that the SEC should not rescind the climate disclosure rule...more

DLA Piper

SEC’s Climate Rule Litigation Update: Is it Actually Over?

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The Securities and Exchange Commission (SEC)’s March 27, 2025 decision (the Decision) to withdraw the defense of its landmark climate-related disclosure rules adopted in March of 2024 (the Rules) did not formally pause or...more

Orrick, Herrington & Sutcliffe LLP

Court upholds Ginnie Mae’s authority in reverse mortgage dispute, grants summary judgment

On April 2, the U.S. District Court for the Northern District of Texas granted defendant Ginnie Mae’s motion for summary judgment in a dispute concerning Ginnie Mae’s Home Equity Conversion Mortgage (HECM) mortgage-backed...more

Kramer Levin Naftalis & Frankel LLP

SEC Abandons Climate-Related Disclosure Litigation — What Next?

The Securities and Exchange Commission (SEC) recently informed the U.S. Court of Appeals for the Eighth Circuit that it will no longer defend its March 6, 2024, rule requiring that companies disclose climate-related risks and...more

Cooley LLP

Commissioner Crenshaw decries SEC action pulling the plug on defense of climate disclosure rules

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As reported in this PubCo post, the SEC announced yesterday that it was ending its “defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions”—the climate disclosure rules. In response to...more

Nelson Mullins Riley & Scarborough LLP

No Soup for You - SEC Commissioners Revoke Authority of Director of Enforcement to Launch Investigations

In a famous Seinfeld episode, a master soup maker had strict rules for ordering his delicious confections.  A violation of his rules, resulted in “No soup for you!”...more

Bressler, Amery & Ross, P.C.

Coinbase, Inc. v. SEC

In early January, Coinbase achieved a partial victory in the Third Circuit Court of Appeals. Thus, there is hope among crypto companies that the Securities and Exchange Commission (“SEC”) will provide guidelines for...more

DLA Piper

SEC Climate Disclosure Rules: Four Potential Paths Under President Trump

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The US Securities and Exchange Commission (SEC) adopted landmark final rules (Climate Disclosure Rules, or Rules) in March 2024 intended to enhance and standardize climate-related disclosures for publicly listed companies....more

Carlton Fields

Piecing Alpine Together

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Is FINRA constitutional? According to the D.C. Circuit’s November 2024 opinion in Alpine Securities Corp. v. FINRA, FINRA proceedings may be unconstitutional in one narrow set of circumstances. ...more

Troutman Pepper Locke

Third Circuit Demands Greater Clarity from SEC Regarding Digital Asset Regulation

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After two and a half years, Coinbase, Inc. (Coinbase) and other crypto market participants may finally get an answer for why the Securities and Exchange Commission (SEC) has declined to promulgate rules clarifying how and...more

Carlton Fields

Jarkesy May Reshape SEC Enforcement Against Professionals

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For decades, the SEC has relied on its in-house administrative proceedings to enforce alleged violations under the federal securities laws, including under its own rules of practice....more

Davis Wright Tremaine LLP

3rd Circuit Rules for Coinbase – Reasoned Analysis and Due Process Do Matter

On January 13, 2024, the U.S. Court of Appeals for the 3rd Circuit ruled on Coinbase's Petition for Review of the SEC's Order denying Coinbase's Petition for Rulemaking requesting that the Commission promulgate rules...more

Kramer Levin Naftalis & Frankel LLP

Third Circuit Chides SEC for Terse Refusal To Engage in Crypto Rulemaking

On Jan. 13, 2025, a unanimous panel of the U.S. Court of Appeals for the Third Circuit held that the Securities and Exchange Commission (SEC or the Commission) violated the Administrative Procedure Act (APA) when it offered...more

Akin Gump Strauss Hauer & Feld LLP

“Under the Wire” E-Comms Settlements: More Confusion Than Closure

On January 13, 2025, the U.S. Securities and Exchange Commission announced settled enforcement actions with five registered investment advisers for failing to maintain and preserve internal electronic communications. These...more

Ropes & Gray LLP

Third Circuit Coinbase Decision Pressures SEC on Crypto Rulemaking

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On Monday, the U.S. Court of Appeals for the Third Circuit issued the attached opinion requiring the SEC to provide a more complete explanation for its refusal to engage in formal notice-and-comment rulemaking regarding the...more

Troutman Pepper Locke

Eighteen State AGs and DeFi Education Fund Sue SEC for Approach to Digital Asset Regulation

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On November 14, a coalition of 18 states, led by Utah Attorney General (AG) Sean Reyes, the outgoing chairman of the Republican AGs Association, filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and...more

Cozen O'Connor

Republican AGs Sue SEC Claiming Cryptocurrency Regulatory Overreach

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A group of 18 Republican AGs, joined by a nonpartisan policy group, have filed a lawsuit contesting the SEC’s enforcement authority over digital assets, including cryptocurrency. In the complaint, the coalition alleges that...more

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: October 2024 #3

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The SEC has been busy, both in bringing actions against digital industry participants and in defending against affirmative lawsuits brought against the agency regarding the lack of notice and rulemaking for digital assets...more

Jenner & Block

Client Alert: Latest Supreme Court Term Presents New Challenges for SEC

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The Supreme Court’s most recent term has forced the SEC to face new realities regarding its powers. As has been widely publicized, the Supreme Court’s overruling of Chevron in Loper Bright Enterprises v. Raimondo highlighted...more

Steptoe & Johnson PLLC

Two U.S. Supreme Court Decisions Will Affect the Securities Industry

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The Supreme Court of the United States (SCOTUS) recently issued two opinions that are likely to have a longer-term effect on the way securities industry matters are handled. Juries, not the Securities Exchange Commission...more

Foley & Lardner LLP

The End of Chevron Deference and the Implications for the SEC

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On June 28, 2024, the U.S. Supreme Court issued its decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce[1], overruling the Chevron doctrine. This holding overturns the decades-long...more

Proskauer - Labor Relations Update

Two Blockbuster U.S. Supreme Court Decisions May Spell End of NLRB’s Expansion of Reach of NLRA as Well as How Agency Prosecutes...

The U.S. Supreme Court issued two blockbuster decisions last week, both of which likely will curtail the ability of federal agencies, including the NLRB, to prosecute cases and expand the law. In a 6-3 decision announced...more

Carlton Fields

Courts May Call “Lane Violation” on Recent SEC Actions

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With increasing frequency, petitioners representing the securities industry are asking courts to decide that rules adopted by the SEC exceed the agency’s authority, even when the rules have barely left the starting blocks....more

Quarles & Brady LLP

SEC Issues an Administrative Stay of its Climate Disclosure Rules

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On March 6, 2024, the Securities and Exchange Commission (SEC or the Commission) finalized its long-awaited climate disclosure rules on a party-line 3-2 vote. We previously provided a summary of the content of that final...more

Mayer Brown Free Writings + Perspectives

SEC Stays Climate-Related Disclosure Rules

The SEC paused implementation of the climate-related disclosure rules in the face of significant legal challenges.  The rules would impose substantial disclosure mandates on companies, including concerning the costs of...more

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