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John E Deaton says SEC admits ignoring Supreme Court

Lawyer John E Deaton says SEC admits ignoring Supreme Court.

Lawyer John E Deaton tweeted that the SEC recognized the override of the supreme court. He noted:

THE SEC ADMITS IT BLATANTLY IGNORES THE SUPREME COURT.

«The Commission, on the other hand, does not require vertical or horizontal commonality per se, nor does it view a common enterprise as a distinct element of the term investment contract».

He added:

The Supreme Court just smacked down the EPA regarding agency overreach. I have zero doubt the Supreme Court today would smack down the SEC’s gross overreach. They certainly wouldn’t allow the SEC to just ignore the common enterprise factor of Howey.

Lena Letinskaya

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