Senator Chris Dodd, Chairman of the Committee on Banking, Housing, and Urban Affairs, on Friday sent a letter to Christopher Cox, Chairman of the U.S. Securities and Exchange Commission (SEC), regarding the Supreme Court’s upcoming consideration of a case that raises an important issue regarding securities law. In the letter, Chairman Dodd asks Chairman Cox whether the SEC plans to write an amicus brief in the Supreme Court case. If so, Chairman Dodd inquires whether the brief would advocate the same position that the SEC has advocated in previous briefs in similar cases – which Dodd considers meritorious. In the event the SEC intends to alter its longstanding position, Dodd asks for an explanation of the reasons for that change.
