Bloomberg Law | SEC Limits on Recouping Illegal Gains Could Check FTC Authority

For nearly 40 years, the Federal Trade Commission has used a provision of the FTC Act to impose monetary penalties in consumer protection cases that is under scrutiny by the Supreme Court. Our Consumer Protection/FTC Team reviews oral argument in a Supreme Court case that will settle a circuit split and decide the fate of the FTC’s interpretation of Section 13(b).

The U.S. Supreme Court’s Jarkesy decision dealt a blow to the Securities and Exchange Commission’s (SEC) in-house adjudication system. Our team analyzes the decision and its potential impact on other federal agencies.

The Supreme Court released its unanimous decision in Axon Enterprise Inc. v. Federal Trade Commission on April 14, 2023. Our Antitrust and Consumer Protection/FTC Groups break down the decision’s impact on future challenges to federal agencies' administrative processes.

Our Securities Litigation Group analyzes the impact of the Axon and Cochran decisions on the use of administrative law judges (ALJs) and gleans clues about the future of direct listings from the Slack oral argument.