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Free Enterprise Fund v. PCAOB

Jay Brown has been blogging extensively on the Free Enterprise Fund’s lawsuit challenging the constitutionality of the Public Company Accounting Oversight Board. His latest post is the ninth (!) in the series.

I wrote about the suit for TCS in my column Peekaboo, the Constitution Doesn’t See You, in which I argued that the Fund’s Appointment Clause argument was correct and concluded that:

The Fund thus has a very strong case that the provisions of Sarbanes-Oxley creating the PCAOB are unconstitutional. Because Congress in its rush to adopt SOX failed to include a clear severability provision, moreover, the Fund may well be able to persuade a reviewing court that the entire Sarbanes-Oxley law must be thrown out.