The U.S. Supreme Court ruled to overturn the Chevron doctrine in Loper Bright Enterprises v. Raimondo, a decision that may weaken the U.S. Securities and Exchange Commission and other regulatory bodies. Chief Justice John Roberts declared that the law will no longer look to government agencies when rules are ambiguous, but will look to courts.
“The administrative agencies are going to be very mindful as to what Congress has authorized them to do and will be very careful in establishing their statutory authority to act,” partner Eric Purple told ThinkAdvisor.
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