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The Demise of the SEC’s Adjudication System
Earlier this month on a Friday afternoon, the Securities and Exchange Commission quietly issued an extraordinary administrative order. In one fell swoop, the SEC unconditionally abandoned more than 40 enforcement cases the agency had previously spent untold staff resources prosecuting over the past decade. In essence, the agency largely shut down what I’ve previously called its “Hotel California” adjudication system.…
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Nasdaq’s Discriminatory Board-Quota Rule Should Be Defeated In Court
Securities and Exchange Commission (SEC) Chairman Gary Gensler’s attempt to politicize the whole American economy to advance his woke agenda faced a critical test last week. The SEC’s partnership with the Nasdaq stock exchange to mandate discriminatory quotas in corporate board rooms was challenged last Monday before the Fifth Circuit Court of Appeals in New Orleans. Petitioners the National…
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Why I’m Suing Over My Employer’s Vaccine Mandate
In a few weeks I will begin my 24th year as a law professor at George Mason University. Last year I volunteered to teach in person, even though I’m in my 50s. Teaching law is my job and I owe my students my best. I also knew I could do it safely. During the spring…
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Have the SEC’s Delay Tactics Made Its Petition for Rulemaking Process Vulnerable to Challenge? A Look at In re Coinbase Inc. and SEC’s Nullification of 5 U.S.C. § 553(e) by Inaction
Last week, Coinbase launched its first counteroffensive against the Securities Exchange Commission’s (“SEC”) aggressive enforcement posturing in the cryptoeconomy. The cryptocurrency trading platform filed a petition for writ of mandamus asking the Third Circuit to make the SEC act on its petition for rulemaking. The filing raises important questions about administrative power in several respects including agency…
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The Student-Loan Suspension Is Also Illegal
The Biden administration’s attempt to forgive $400 billion in outstanding student loan debt through administrative fiat has come under richly deserved fire, with its fate now in the hands of the Supreme Court. But an equally unlawful companion giveaway has thus far avoided much controversy. That giveaway, which began under the Trump administration and has…
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America’s Censorship Regime Goes on Trial
Covid-19 Articles
Ernest Ramirez, a car-wash technician in a small, south Texas town, led a simple but fulfilling life with his son, Ernesto Junior. Junior was a “wonderful child, full of smiles.” Ramirez had raised his son alone; he’d never known his own father and sought to provide Junior with the paternal love he had missed. A…
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