Daily Archives: November 6, 2014, 1:21 pm

Gallagher: Dodd-Frank Has SEC ‘Shoveling Manure’ for ‘No Discernible Purpose’ | Compliance Week

In his latest attack on the law he recently called “Dodd-Frankenstein,” SEC Commissioner Daniel S. Gallagher stated that the Dodd-Frank Act has left the Commission spending “much, if not most, of its time and resources for nearly half a decade shoveling manure, in some cases for no discernible purpose whatsoever.” via Gallagher: Dodd-Frank Has SEC ‘Shoveling Manure’ for ‘No Discernible…

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SEC’s Administrative Enforcement Intensifies Fairness Debate | New York Law Journal

… In a recent opinion, U.S. District Judge Jed S. Rakoff mused: “[T]he Court of Appeals invites the SEC to avoid even the extremely modest review it leaves to the district court by proceeding on a solely administrative basis … . One might wonder: from where does the constitutional warrant for such unchecked and unbalanced administrative power derive?”1 As the…

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