Correct. Most likely setup specifically intended to delay the merger. DWAC appeared to be positioned for a lawsuit against the SEC for 3x actual damages, 200x punitive damages, and injunctive relief. So that may have forced the SEC to resolve or fight it out with dire consequences if the SEC lost. As soon as SCOTUS overturns Chevron Doctrine (to go with W. Virginia v EPA) it may be possible to get permanent injunction against the SEC that would apply in all sovereign states.
An injunction would prevent SEC from enforcing all "rules" that are NOT law passed by the Congress. Article II agencies may not usurp Article I Const. authority, and "make laws" or "apply rules as if they are laws" when they in fact, are not (color of law crime). Applies to all Executive Branch Depts, including IRS. All "rules" would have to be explicitly authorized by Congress in specific legislation with specific language to become enforce-able laws.
Correct. Most likely setup specifically intended to delay the merger. DWAC appeared to be positioned for a lawsuit against the SEC for 3x actual damages, 200x punitive damages, and injunctive relief. So that may have forced the SEC to resolve or fight it out with dire consequences if the SEC lost. As soon as SCOTUS overturns Chevron Doctrine (to go with W. Virginia v EPA) it may be possible to get permanent injunction against the SEC that would apply in all sovereign states.
An injunction would prevent SEC from enforcing all "rules" that are NOT law passed by the Congress. Article II agencies may not usurp Article I Const. authority, and "make laws" or "apply rules as if they are laws" when they in fact, are not (color of law crime). Applies to all Executive Branch Depts, including IRS. All "rules" would have to be explicitly authorized by Congress in specific legislation with specific language to become enforce-able laws.