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David Blass Quoted in Private Funds CFO on Impact of Recent Court Decisions on Rulemaking
07.24.24
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Partner David Blass was quoted in a Private Funds CFO article titled, “Court Decisions To Force SEC To Consider Options,” which discussed how recent decisions from the U.S. Supreme Court and the Fifth Circuit may impact the SEC’s approach to rulemaking going forward. When discussing the potential impacts of the Supreme Court’s Loper Bright decision, David noted that the SEC seems to have anticipated the judiciaries’ direction of travel and rarely relied on Chevron deference in its court pleas defending rulemaking, including to the recent challenge to the private fund adviser rule in the Fifth Circuit. On the topic of rulemaking authority, he went on to further indicate that, “It would be prudent for the SEC to add more of an explanation of the legal authority it is relying on for rulemaking in the future.”
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