The US Supreme Court rules that federal securities laws implicitly preclude application of antitrust law to regulated securities industry related claims (Credit Suisse Securities / Billing)

Credit Suisse v. Billing: The Limited Impact on Application of Antitrust Laws in Federally Regulated Industries Following the 2008 Financial Crisis and Beyond* In Credit Suisse v. Billing, the Supreme Court of the United States considered whether antitrust laws were implicitly precluded from being brought in underwriting securities activities regulated by securities laws. The Court held that antitrust laws were implicitly precluded from this specific area because there was a “clear repugnancy” between antitrust and the regulatory scheme that would cause dangerous, inconsistent standards if antitrust laws we enforced in tandem with the underwriting securities regulations. The Court narrowly and consistently extended its previous precedents in finding implied antitrust immunity. The

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Jessica Rebarber, The US Supreme Court rules that federal securities laws implicitly preclude application of antitrust law to regulated securities industry related claims (Credit Suisse Securities / Billing), 18 June 2007, e-Competitions Bulletin Burden of proof, Art. N° 41302

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