News & Analysis as of

Constitutional Challenges Department of Justice (DOJ) Securities and Exchange Commission (SEC)

Orrick, Herrington & Sutcliffe LLP

District court dismisses bank’s constitutional challenge to FDIC administrative proceedings

On March 3, the U.S. District Court for the District of Kansas dismissed a constitutional challenge to enforcement proceedings by the FDIC, ruling the court lacked subject matter jurisdiction over the plaintiff’s claims. As...more

Holland & Knight LLP

DOJ Forsakes Defending the ALJ Process Against Article II Challenges

Holland & Knight LLP on

On Feb. 18, 2025, in a case seeking declaratory and injunctive relief against the SEC, the U.S. Department of Justice (DOJ) filed a Notice of Change in Position indicating that the DOJ will no longer defend in litigation "the...more

K&L Gates LLP

Trump Administration Asserts Control Over Independent Agencies

K&L Gates LLP on

The Trump administration has taken two actions that will dramatically increase White House control over federal commissions, boards, and officials that were previously considered independent. These actions are likely to...more

Orrick, Herrington & Sutcliffe LLP

DOJ determines administrative law judges are unconstitutional

On February 20, Acting Solicitor General Sarah M. Harris wrote to Sen. Charles Grassley (R-IA), President pro tempore of the Senate, and Rep. Mike Johnson (R-LA), Speaker of the House, to disclose that, pursuant to 28 U.S.C....more

Carlton Fields

DOJ Withdraws Defense of SEC ALJs' Constitutionality as Trump Issues Executive Order on Agency Accountability

Carlton Fields on

On February 18, 2025, President Trump issued executive order 14215, titled “Ensuring Accountability for All Agencies,” with the stated purpose of making federal agencies, including independent regulatory ones like the...more

Proskauer Rose LLP

FTC Focus: Zeroing In On Post-Election Labor Markets

Proskauer Rose LLP on

Under Chair Lina Khan, the Federal Trade Commission elevated its focus on labor markets. It promulgated a rule attempting to ban noncompete agreements, now stayed and subject to litigation. It took action against alleged...more

Goodwin

Dismissal of Shareholder Derivative Suit for Failure to Allege Demand Was Excused

Goodwin on

On September 27, 2022, U.S. District Judge Kevin McNulty of the District of New Jersey dismissed a consolidated derivative action allegedly brought on behalf of Cognizant Technology Solutions Corporation against certain...more

Goodwin

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

A lot of the furor over Elon Musk’s recent “going private” tweets has centered on whether he actually had the financial backing needed to pull it off.  The Times sets aside that initial inquiry to explore the why and how,...more

Burr & Forman

SEC About-Face, About Time, on ALJs

Burr & Forman on

On November 29, the SEC did an about-face and admitted its ALJs are “inferior officers” (not merely employees) subject to the Constitution’s Article II appointment provisions. The Solicitor General’s brief on behalf of the...more

Eversheds Sutherland (US) LLP

Seventh Circuit Upholds First-Ever “Spoofing” Conviction

On August 8, 2017, a three-judge panel of the US Court of Appeals for the Seventh Circuit unanimously upheld the first-ever criminal conviction of a New Jersey futures trader for the manipulative trading practice known as...more

Proskauer Rose LLP

2016 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity Funds and Other Private Funds

Proskauer Rose LLP on

This special report provides a summary of some of the significant changes and developments that occurred in the past year in the private equity and hedge funds space, as well as certain recommended practices that investment...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for June 2016

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

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