GC Mid-AtlanticHayes Hunt and Arthur P. Fritzinger, The Legal Intelligencer
Second Circuit Emphasizes Deference to Regulatory Agencies
On June 4, the U.S. Court of Appeals for the Second Circuit issued its ruling in Securities and Exchange Commission v. Citigroup Global Markets, No. 11-5227-CV L (2d Cir. Jun. 4, 2014), reversing a decision rejecting a consent judgment filed by the parties and remanding the case to the district court. In its opinion, the Second Circuit provided significant guidance to federal courts and litigants, and reaffirmed the broad discretion afforded to federal agencies in settling regulatory claims.