US Supreme Court decisions curb agency discretion

Significance

Taken collectively, these decisions undermine the ability of successive administrations since the 1980s to execute policy through federal agency rules and regulations. This curbing of the 'administrative state' has long been an ambition of conservatives.

Impacts

• Regulated companies and industries will face a new but not yet settled regulatory landscape regarding rulemaking and enforcement.
• Changes to the Chevron deference doctrine will now require an agency to persuade a court that it should be deferred to in a particular case.
• The burden of jury trials, rather than its own system, will make the SEC more open to settling with those it accuses of securities fraud.