Bedrock Wall Street Rules Threatened by Supreme Court Ruling
- SEC among agencies affected by rolling back Chevron deference
- Industry push against regulator gets lift from court decision
This article is for subscribers only.
Wall Street is poised to win more battles with the US Securities and Exchange Commission after the Supreme Court weakened a decades-old legal doctrine that gave federal agencies expansive leeway to interpret the law.
The high court’s 6-3 decision may turbocharge challenges to the agency’s efforts on everything from crypto to insider trading. The new limits add to a string of court setbacks for Chair Gary Gensler as the SEC moves to implement some of the most comprehensive — and controversial — regulations in decades.