What happened
The SEC's insider trading duty rule may face legal scrutiny in U.S. v. Jennings, as the defense could challenge the rule's boundaries under Loper Bright, moving away from Chevron deference.
Named in this item
STATUS
NAME
ISO
PROGRAM
IDENTIFIER
SEC
Organization, regulator US SEC Insider Trading Duty Rule —
Organization, regulator US SEC Insider Trading Duty Rule —
What compliance teams should check
- Monitor developments in U.S. v. Jennings for regulatory impact
- Review insider trading compliance policies
- Assess exposure to changes in SEC rule interpretation
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In U.S. v. Jennings, pending in New Jersey federal court, the defense has an opportunity to challenge the rule defining the boundaries of the misappropriation theory of insider trading under Loper Bright, as the only litigated case testing the rule's limits relied on Chevron deference, say attorneys at O'Melveny.Law360, 15 Oct 2026, 17:50 UTC, law360.com