CUA Law Professor David Lipton was quoted in Bloomberg questioning the right of SEC Commissioners to bring their Second Amendment political views into the regulation of Banks. See below.
Banks Thought They Had a Win With Guns. Now They've Got a Big GOP Headache
By: Robert Schmidt (With Polly Mosendz)
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As for SEC Commissioner Piwowar, some observers found his comments troubling because they were issued, in private, by a regulator with power over the bank. Piwowar declined to comment. There's debate over whether he crossed any ethical lines, though some securities lawyers say his actions were at the least inappropriate. "This is outrageous and, I think, beyond his authority," says David Lipton, director of the securities regulation program at Catholic University's law school. SEC commissioners "have an obligation to the market and to protect investors. They don't have an obligation to their politics."
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