Legal Opinion
Chamber of Commerce of United States v. Securities & Exchange Commission
Court of Appeals for the D.C. Circuit
Decided June 21, 2005No. 04-1300PublishedCited by 88 opinions
1Opinion of the Court
GINSBURG, Chief Judge.
The Chamber of Commerce of the United States petitions for review of a rule promulgated by the Securities and Exchange Commission under the Investment Company Act of 1940(ICA), 15 U.S.C. § 80a-l et seq. The challenged provisions of the rule require that, in order to engage in certain transactions otherwise prohibited by the ICA, an investment company— commonly referred to as a mutual fund— must have a board (1) with no less than 75% independent directors and (2) an independent chairman. The Chamber argues the ICA does not give the Commission authority to regulate…
2Cases cited17 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Motor Vehicle Mfrs. Assn. of United States, Inc. v. State Farm Mut. Automobile Ins. Co.Supreme Court of the United States · 1983
- Securities & Exchange Commission v. Chenery Corp.Supreme Court of the United States · 1947
- Elk Grove Unified School District v. NewdowSupreme Court of the United States · 2004
- Burks v. LaskerSupreme Court of the United States · 1979
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3Cited by88 opinions
- American Radio Relay League, Inc. v. Federal Communications CommissionCourt of Appeals for the D.C. Circuit · 2008
- Chamber of Commerce of United States v. Securities & Exchange CommissionCourt of Appeals for the D.C. Circuit · 2006
- South Carolina Public Service Authority v. Federal Energy Regulatory CommissionCourt of Appeals for the D.C. Circuit · 2014
- Kaho'ohanohano v. StateHawaii Supreme Court · 2007
- State of Louisiana v. DOECourt of Appeals for the Fifth Circuit · 2024
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