Free Enterprise Fund v. Public Company Accounting Oversight Board

E722002

Free Enterprise Fund v. Public Company Accounting Oversight Board is a 2010 U.S. Supreme Court case that limited the President’s removal restrictions over members of the Public Company Accounting Oversight Board, refining the constitutional boundaries of separation of powers and executive control over independent agencies.

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Predicate Object
instanceOf United States Supreme Court case
administrative law case
separation of powers case
affectedEntity Public Company Accounting Oversight Board NERFINISHED
Securities and Exchange Commission NERFINISHED
arguedDate 2009-12-07
citation 130 S. Ct. 3138
177 L. Ed. 2d 706
561 U.S. 477
concurrenceBy Stephen G. Breyer NERFINISHED
constitutionalProvisionInvolved Appointments Clause of the United States Constitution NERFINISHED
Article II of the United States Constitution NERFINISHED
country United States of America
surface form: United States
court Supreme Court of the United States
decisionDate 2010-06-28
dissentingOpinionBy Stephen G. Breyer NERFINISHED
docketNumber 08-861
holding Dual for-cause limitations on the removal of PCAOB members are unconstitutional because they unduly restrict the President’s ability to oversee the executive branch
The unconstitutional removal provisions are severable from the remainder of the Sarbanes–Oxley Act provisions creating the PCAOB
impact clarified the status of PCAOB members as inferior officers under the Appointments Clause
narrowed permissible limits on congressional insulation of executive officers from presidential removal
joinedByInDissent John Paul Stevens NERFINISHED
Ruth Bader Ginsburg NERFINISHED
Sonia Sotomayor NERFINISHED
joinedByInMajority Anthony M. Kennedy NERFINISHED
Antonin Scalia NERFINISHED
Clarence Thomas NERFINISHED
Samuel A. Alito, Jr. NERFINISHED
jurisdiction federal law
legalIssue Appointments Clause NERFINISHED
constitutionality of the Public Company Accounting Oversight Board
removal power of the President
separation of powers
majorityOpinionBy John G. Roberts, Jr. NERFINISHED
petitioner Beckstead and Watts, LLP NERFINISHED
Free Enterprise Fund NERFINISHED
priorHistory Free Enterprise Fund v. Public Company Accounting Oversight Board, 537 F.3d 667 (D.C. Cir. 2008), affirmed in part and reversed in part NERFINISHED
relatedCase Humphrey’s Executor v. United States NERFINISHED
Morrison v. Olson NERFINISHED
Seila Law LLC v. Consumer Financial Protection Bureau NERFINISHED
respondent Public Company Accounting Oversight Board NERFINISHED
United States NERFINISHED
result PCAOB members became removable by the Securities and Exchange Commission at will
statuteInterpreted Sarbanes–Oxley Act of 2002 NERFINISHED
subjectMatter federal securities regulation
structure of independent regulatory agencies
term October Term 2009
yearDecided 2010

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Humphrey’s Executor v. United States isCitedIn Free Enterprise Fund v. Public Company Accounting Oversight Board