Will This Court Decision Gut the Regulatory State?

Last month, the U.S. Court of Appeals for the Fifth Circuit issued a 2-1 opinion in favor of hedge fund manager George Jarkesy and investment adviser Patriot28. Their case contested the Securities and Exchange Commission’s decision to charge them with wide-ranging securities fraud. The decision’s text appears to argue against or, at least, minimize the role of subject matter experts and the administrative law power of federal agencies.

Conor D. Dirks is an attorney at the firm of Shaw Bransford & Roth, where he has represented federal officials and employees in all aspects of federal personnel employment law. He joined the podcast to talk about the decision and what it will mean for the administrative state.

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