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Renewed Petition for Rulemaking to Amend SEC Rule Restricting Speech

CASE SUMMARY

For over five decades, the Securities and Exchange Commission has violated the First Amendment by gagging every American with whom it settles a regulatory enforcement case, forbidding them from uttering even truthful criticism of their cases in public. More than five years ago, the New Civil Liberties Alliance petitioned SEC to abolish or amend its “Gag Rule,” but the agency has ignored that petition and continued its unconstitutional practice. NCLA, its client Christopher Novinger, and former clients Barry Romeril and Ray Lucia filed a renewed petition demanding an end to this lifetime gag rule and posing the same question U.S. District Judge Ronnie Abrams asked in 2022: “What is SEC so afraid of?”

OUR TEAM

Mark Chenoweth
President and Chief Legal Officer
Kara Rollins
Litigation Counsel
Margaret A. Little
Senior Litigation Counsel
Kaitlyn Schiraldi
Staff Attorney

RELEVANT MATERIALS

NCLA FILINGS

SEC's Response to New Civil Liberties Alliance's Rulemaking Petition, File No. 4-733

January 30, 2024 | Read More

Renewed Petition for Rulemaking to Amend the Rule Restricting Speech that is set forth in 17 C.F.R. § 202.5(e) (“The Gag Rule”), File No. 4-733

December 20, 2023 | Read More

Petition to Amend

October 30, 2018 | Read More

PRESS RELEASES

SEC Denies NCLA Petition Against Agency’s Illegal Gag Rule on Targets of Settled Enforcement Cases

January 30, 2024 | Read More

NCLA Renews Ask for SEC to Amend or Revoke Gag Rule on Targets of Settled Enforcement Cases

December 20, 2023 | Read More

IN THE MEDIA

What is the SEC so afraid of?

February 9, 2024

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