Last week, the U.S. Court of Appeals for the Fifth Circuit, in a 2-1 decision, vacated the DOL fiduciary rule in its entirety. The lawsuit was brought by the U.S. Chamber of Commerce, SIFMA and a number of other business groups to challenge the validity of the fiduciary rule,
Continue Reading DOL Fiduciary Rule on Life Support
Stefani Johnson Myrick
Ms. Johnson is an associate in Davis Polk’s Litigation Department. [Full Bio]
Spoofing Rule Governing Commodities Trading Survives Constitutional Vagueness Challenge in the Seventh Circuit
In a closely watched case, the Seventh Circuit last week affirmed the felony conviction of Michael Coscia, a New Jersey high frequency trader, rejecting his arguments that the anti-spoofing provision in the Commodity Exchange Act under which he was charged is unconstitutionally vague and that the evidence in the…
Continue Reading Spoofing Rule Governing Commodities Trading Survives Constitutional Vagueness Challenge in the Seventh Circuit