West Virginia v. EPA leaves no doubt that agencies must have a clear statement from Congress allowing them new powers if they are to try to transform America’s economy and society. The SEC should acknowledge the writing on the wall and stand down from this rulemaking. At the very least, it should reopen the comment period for its disclosure requirement, which closed some days before the Supreme Court’s decision, to let the public weigh in on how this tremendously important decision affects its rulemaking.
‘Enforcement 40’ for 2020
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