Kathleen Casey and the power of dissent

Larry Ribstein —  8 August 2011

I would like to add to Jay’s praise of departing SEC Commissioner Casey my own appreciation.  I noted a couple of weeks ago the Commissioners Casey and Paredes’ influence on the DC Circuit’s proxy access decision. These Commissioners haven’t just been nay-sayers throwing down a gauntlet against regulation. Rather, they have been consistently thoughtful and articulate advocates of well-reasoned decision-making by our leading financial regulator. The DC Circuit decision is an example of the potential influence of powerful dissents. But even if these Commissioners haven’t yet been able to change the course of this regulatory ocean liner, they may help establish a better direction for future regulation.

Larry Ribstein

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Professor of Law, University of Illinois College of Law