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Jarkesy Case Upends SEC Tribunal

USA - May 24 2022 On May 18, 2022, the US Court of Appeals for the Fifth Circuit issued its decision in Jarkesy v. SEC, vacating a Securities and Exchange Commission…

Stephanie Avakian, Timothy J. Perla, Daniel F. Schubert

Congress Amends Exchange Act in Response to Kokesh and Liu, Expanding SEC Enforcement Power

USA - April 18 2021 On December 29, 2020, Congress amended Section 21(d) of the Securities Exchange Act of 1934 (Exchange Act) to codify and expand the power of the…

Matthew Beville, Lorraine B. Echavarria, Lori A. Martin, Elizabeth Mitchell, Jaclyn Moyer, Nicole Rabner, Theresa Titolo

Applicability of the Biden Administration’s Regulatory Freeze to Independent Agencies

USA - February 1 2021 On January 20, 2021, White House Chief of Staff Ron Klain issued a memorandum ordering a temporary freeze of new or pending rules in order “to ensure…

Mark D. Cahn, Meredith B. Cross, Nicole Rabner, Anuradha Sivaram, Jonathan Wolfman

Congress Amends Exchange Act, Expanding SEC Enforcement Power

USA - January 4 2021 On January 1, 2021, amendments to Section 21(d) of the Securities Exchange Act of 1934 (Exchange Act) codifying and expanding the power of the…

Matthew Beville, Lorraine B. Echavarria, Lori A. Martin, Elizabeth Mitchell, Jaclyn Moyer, Nicole Rabner, Theresa Titolo

Liu v. SEC: The U.S. Supreme Court Upholds the SEC’s Power To Obtain Disgorgement in Civil Actions, But With Important Limitations

USA - June 24 2020 On June 22, the Supreme Court held in Liu v. SEC that the SEC may obtain disgorgement in federal court cases, as long as the disgorgement does not…

Christopher Davies, Lorraine B. Echavarria, Lori A. Martin, Elizabeth Mitchell, Jaclyn Moyer, Nicole Rabner, Daniel F. Schubert, Theresa Titolo, Eric D. Wolkoff