Litigation Update: Powell v. SEC

The SEC’s “Gag Rule” long conditioned settlement of enforcement actions on the defendant's agreeing never to publicly deny the agency's allegations, even where the defendant admitted no wrongdoing. In Powell v. SEC, now before the Supreme Court on a petition for certiorari, Petitioners argue that this condition violates the First Amendment; the Ninth Circuit had upheld the rule as a permissible voluntary waiver. The case has already produced major developments. Last month, the SEC rescinded the Gag Rule, and the Commodity Futures Trading Commission has now rescinded its own comparable no-deny settlement policy. The SEC now contends that its rescission of the rule renders Powell moot. Join us for a litigation update on Powell and a broader discussion of what these reversals mean for agency enforcement, settlement negotiations, mootness, and government efforts to control the public narrative. Featuring: --Margaret A. Little, Senior Litigation Counsel, New Civil Liberties Alliance --Hon. Gregory G. Garre, Partner, Latham & Watkins LLP --(Moderator) Jill Jacobson, Litigation Associate, Weil, Gotshal & Manges LLP