Supreme Court’s Reversal of Chevron Deference Unlikely to Impact SEC and CFTC Operations Significantly, Experts Say

On June 28, the U.S. Supreme Court overturned the long-standing Chevron deference, a precedent that had previously favored federal agencies’ rulemaking interpretations. Despite this significant judicial shift, for regulatory bodies such as the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC), the impact might be less substantial than anticipated. According to Dan Berkovitz at Millennium Management, the Chevron doctrine did not fundamentally alter the relationship between these regulatory bodies and the courts in shaping securities and commodities laws. Consequently, its removal is not expected to drastically change this dynamic. For more detailed analysis, visit the original article.