May 8, 2026 · 22 min · 15 segments
Why is the SEC suddenly facing a historic wave of lawsuits? Professor Amanda Rose joins us to discuss the "rational actor" shift in securities defense. From Supreme Court wins to the rise of pro-bono…
Actually, we just saw that happen yesterday, today, on the rulemaking around public company disclosures of climate issues, where the, the Atkins administration is seeking to undo some prior rulemaking on that subject.
It's really important, I think, Nick, also because, you know, the-- as things are more partisan in the world, th-these discretionary levers have become, I think, more problematic for market actors.
Because it's one thing to have an agency exercise discretion in sort of a predictable way towards sort of stable goals.
It's another thing when you have really rapid changes in how that discretion is exercised and kind of policy flip-flops.
And so that makes the use of those techniques more costly and more attractive to, to challenge legally.
And, and I'm not sure that the way the SEC has always done things is something that's actually sustainable in the moment we're in, in the new political environment that we're in.
Actually, we just saw that happen yesterday, today, on the rulemaking around public company disclosures of climate issues, where the, the Atkins administration is seeking to undo some prior rulemaking on that subject.
It's really important, I think, Nick, also because, you know, the-- as things are more partisan in the world, th-these discretionary levers have become, I think, more problematic for market actors.
Because it's one thing to have an agency exercise discretion in sort of a predictable way towards sort of stable goals.
It's another thing when you have really rapid changes in how that discretion is exercised and kind of policy flip-flops.
And so that makes the use of those techniques more costly and more attractive to, to challenge legally.
And, and I'm not sure that the way the SEC has always done things is something that's actually sustainable in the moment we're in, in the new political environment that we're in.
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