Chevron Ruling May 'Hamstring' SEC Rulemaking Agenda: Lawyers
Genna Garver, a partner with Troutman Pepper, was quoted in the July 1, 2024 FundFire article, " Chevron Ruling May 'Hamstring' SEC Rulemaking Agenda: Lawyers."
Part of that Fifth Circuit opinion held that the SEC's interpretation of a term in the Dodd Frank Act was incorrect and that it exceeded its authority by expanding the meaning of the term "investor," noted Genna Garver, a partner at Troutman Pepper.
"The fact that the Supreme Court ... shot down the Chevron doctrine.... that is not boding well for an appeal" to the Fifth Circuit's private fund ruling, she said. "It is not looking favorable for the SEC to pursue that, in my opinion."
The SEC may also reevaluate and reopen comment periods for its proposed predictive data analytics and custody rules following the Supreme Court's rulings, said Garver.