Dana Block Martin H. Olesh Deborah W. Olesh Ruth Rae Wiener Nancy Grossman Hannah Obstfeld v. Securities and Exchange Commission
Court of Appeals for the D.C. Circuit
1Opinion of the Court
GINSBURG, Circuit Judge:
The petitioners are shareholders in the Dreyfus Family of Funds. They seek review of the Securities and Exchange Commission’s decision not to hold a hearing in order to determine whether certain directors of the Dreyfus Funds are “interested persons” within the meaning of § 2(a)(19) of the Investment Advisers Act of 1940, 15 U.S.C. § 80a-2(a)(19). We hold that the decision whether to initiate a hearing under § 2(a)(19) is within the unreviewable discretion of the SEC. Consequently, we dismiss the petition for review.
I. BACKGROUND
The Dreyfus Funds are investment…
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