Partner Christine Schleppegrell was quoted in a Law360 article that discussed the US Supreme Court’s decision to overturn the Chevron deference, making it tougher for financial regulators to defend a range of rules and regulations pursued by the Biden administration.
Christine believes the Loper Bright case will bolster arguments made by those challenging the Securities and Exchange Commission’s rules on the grounds of weak authority. “It strengthens the challenges to rules that were already going to be challenged for other statutory reasons,” said Christine. “But I don’t think that the Chevron ruling necessarily is going to focus industry efforts that weren’t already underway to challenge some of these things.”
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