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Public Interest Groups Challenge Nasdaq Diversity Rule in Federal Court
…The National Center for Public Policy Research (NCPPR) filed a petition this week with the U.S. Court of Appeals for the Third Circuit, challenging the adoption of the Nasdaq diversity rule. The New Civil Liberties Alliance (NCLA) is representing NCPPR and is arguing that the rule falls outside of the agency’s statutory authority and violates the due process and…
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Women Score Gains on Philly Corporate Boards but Remain Far From Parity
…The National Center for Public Policy Research filed a lawsuit over the SEC’s approval of the Nasdaq board diversity rules. The National Center, represented by the New Civil Liberties Alliance, argues that the SEC’s regulatory authority, established by the 1934 Securities and Exchange Act, is limited to regulation of securities to ensure honest markets and…
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Care for Neediest Hangs in Balance in High Court HHS Case
…Others agree. The New Civil Liberties Alliance says it’s “particularly disturbed by the appeals court’s decision not to exercise its independent judgment regarding the best reading of the statute at issue.” Likewise, the Americans for Prosperity Foundation says deference doctrines like Chevron “wrongly place a thumb on the scale in favor of the nation’s most…
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SEC Sued over Nasdaq’s ‘Diversity’ Rule for Race, Gender, LGBTQ Quotas on Boards
The National Center for Public Policy Research, a conservative think tank advocating free market policies, sued the U.S. Securities and Exchange Commission (SEC) on Tuesday after it approved the Nasdaq’s controversial “diversity” rule. The policy attempts to avoid the problem of racial, gender, and sexual quotas — which are often illegal — by allowing companies…
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Fifth Circuit Hears Arguments In Bump Stock Ban Case
…In no time flat, there were proposals and bills banning the devices, proposals that sometimes went well beyond just bump stocks. President Trump eventually decided to ban them via executive order, thus negating any push for federal regulations. However, some still take issue with the banning, myself included, and they took the issue to court.…
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Second Circuit Declines to Strike Down No-Deny Provision of Executive’s SEC Consent Agreement
On Sept. 27, 2021, the U.S. Court of Appeals for the Second Circuit rejected the most recent legal challenge to the Securities and Exchange Commission’s (SEC) practice of using “no-deny” consent agreements to resolve civil enforcement actions. This practice allows alleged violators of federal securities laws to settle civil actions with the SEC without admitting or…
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