Securities and Exchange Commission v. Jarkesy
U.S. Supreme Court · decided June 27, 2024 · Supreme Court Database (Spaeth)
- Decided
- June 27, 2024
- Term
- October Term 2023
- Vote
- 6–3
- Majority author
- Justice Roberts
- Issue area
- Economic Activity
- Disposition
- Affirmed
- Outcome
- Petitioning party lost
- Ideological direction
- Conservative
Opinion excerpt
PRELIMINARY PRINT Volume 603 U. S. Part 1 Pages 109–203 OFFICIAL REPORTS OF THE SUPREME COURT June 27, 2024 Page Proof Pending Publication REBECCA A. WOMELDORF reporter of decisions NOTICE: This preliminary print is subject to formal revision before the bound volume is published. Users are requested to notify the Reporter of Decisions, Supreme Court of the United States, Washington, D.C. 20543, pio@supremecourt.gov, of any typographical or other formal errors. OCTOBER TERM, 2023 109 Syllabus SECURITIES AND EXCHANGE COMMISSION v. JARKESY et al. certiorari to the united states court of appeals for the fth circuit No. 22–859. Argued November 29, 2023—Decided June 27, 2024 In the aftermath of the Wall Street Crash of 1929, Congress passed a suite of laws designed to combat securities fraud and increase market transparency. Three such statutes are relevant: The Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940. These Acts respectively govern the registration of securi- ties, the trading of securities, and the activities of investment advisers. Although each regulates different aspects of the securities markets, their pertinent provisions—collectively referred to by regulators as “the antifraud provisions,” App. to Pet. for Cert. 73a, 202a—target the same basic behavior: misrepresenting or concealing material facts. To enforce…
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