Abstract
Purpose – To examine a statement issued by Justice Antonin Scalia on November 10, 2014, concurrently with the Supreme Court ' s denial of certiorari in a criminal insider trading case, which raises profound questions about how the courts interpret the federal securities laws and the degree of deference they give to the Securities and Exchange Commission (SEC) in the context of criminal enforcement. Design/methodology/approach – The article discusses the points raised in the justice ' s statement and their potential implications for future securities enforcement cases. Findings – The statement suggests that the traditional deference courts accord the SEC under the landmark decision in Chevron USA Inc. v. Natural Resources Defense Council, Inc., 467 US 837 (1984) may be inappropriate and potentially inconsistent with the rule of lenity, which requires that ambiguous criminal laws be interpreted in a defendant ' s favor. Originality/value – Expert guidance from experienced securities lawyers.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
