- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-07-02T19:43:00
The Supreme Court of the United States (SCOTUS) extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
In a 6-3 decision, issued Monday, SCOTUS opened the door to legal challenges to regulations long after those regulations take effect.
The case, Corner Post v. the Federal Reserve Board, centered on a challenge by a North Dakota truck stop that sued over a Fed regulation related to fees that merchants must pay banks for handling debit card transactions. The fee took effect in 2011; Corner Post did not open until 2018.
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The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
The Supreme Court of the United States ruled that the Securities and Exchange Commission’s practice of using in-house tribunals overseen by an administrative judge to adjudicate securities fraud cases is unconstitutional.
The Supreme Court reaffirmed whistleblower protections guaranteed under the Sarbanes-Oxley Act in a unanimous decision expected to set a precedent that impacts all corporate internal reporting cases.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
Two senior officials from the Securities and Exchange Commission and Commodity Futures Trading Commission described how both agencies are committed to rooting out off-channel communications among registered entities for the long term.
William Donaldson, a former chairman of the Securities and Exchange Commission, died Tuesday. He was 93.
