Decided
Free Enterprise Fund and Beckstead and Watts, LLP v. Public Company Accounting Oversight Board
Holding
The Public Company Accounting Oversight Board has expansive powers to regulate accounting firms that audit public companies. Its members are appointed by Securities and Exchange Commission (SEC) and cannot be removed except for “good cause."? The members of the SEC, in turn, may be removed by the President only for “good cause."? The Court ruled that the two-tiered “good cause”? protection violates separation of powers principles by depriving the President of sufficient authority to ensure that the laws are faithfully executed by executive branch officials.
Judgment
Affirmed in part, reversed in part, and remanded, 5-4, in an opinion by John Roberts on Jun 4, 2010. Justice Breyer dissented, joined by Justices Stevens, Ginsburg, and Sotomayor.
Merits Briefs
- Brief for Petitioner Free Enterprise Fund and Beckstead and Watts, LLP
- Brief for Respondent Public Company Accounting Oversight Board
- Brief for Respondent United States of America
- Reply Brief for Petitioner Free Enterprise Fund and Beckstead and Watts, LLP
Amicus Briefs
- Brief for the Center for Individual Rights in Support of Petitioner
- Brief for the Mountain States Legal Foundation in Support of Petitioner
- Brief for Law Professors in Support of Petitioner
- Brief for American Civil Rights Union and Mallory Factor in Support of Petitioner
- Brief for William P. Barr, Edwin Meese III, Richard Thornburgh, and the Washington Legal Foundation in Support of Petitioner
- Brief for the Claremont Institute for Constitutional Jurisprudence in Support of Petitioner
- Brief for the Coalition for Fair Lumber Imports in Support of Petitioner
- Brief for the CATO Institute and Professors Larry Ribstein and Henry Butler in Support of Petitioner
- Brief for the National Association of State Boards of Accountancy in Support of Respondents
- Brief for Constitutional and Administrative Law Scholars in Support of Respondents
- Brief for Center for Audit Quality in Support of Respondent the Public Company Accounting Oversight Board
- Brief for Council of Institutional Investors; The American Federation of Labor and Congress of Industrial Organizations; the California Public Employees Retirement System; The California State Teachers’ Retirement System; CFA Institute; the Consumer Federation of America; the Los Angeles County Employees Retirement Association; the Nathan Cummings Foundation; Thomas P. Dinapoli, Comptroller of the State of New York, as Trustee of the New York State Common Retirement Fund and as Administrative Head of the New York State and Local Retirement Systems; the Public Employees Retirement Association of Colorado; the Sacramento County Employees’ Retirement System; and the Teachers Insurance and Annuity Association-College Retirement Equities Fund in Support of Respondents
- Brief for Former Chairmen of the Securities and Exchange Commission in Support of Respondents
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Related Coverage
Jan 5, 2009Petition for a writ of certiorari filed. (Response due February 9, 2009)
Feb 4, 2009Order extending time to file response to petition to and including March 11, 2009, for all respondents.
Feb 9, 2009Brief amicus curiae of American Civil Rights Union filed.
Feb 9, 2009Brief amicus curiae of Mountain States Legal Foundation filed.
Feb 9, 2009Brief amicus curiae of Washington Legal Foundation filed.
Feb 27, 2009Order further extending time to file response to petition to and including April 10, 2009, for all respondents.
Apr 10, 2009Brief of respondent United States in opposition filed.
Apr 10, 2009Brief of respondents Public Company Accounting Oversight Board, et al. in opposition filed.
Apr 21, 2009DISTRIBUTED for Conference of May 14, 2009.
Apr 22, 2009Reply of petitioners Free Enterprise Fund, and Beckstead and Watts, LLP filed. (Distributed)
May 18, 2009Petition GRANTED.
Jun 3, 2009The time within which to file the joint appendix and petitioner's brief on the merits is extended to and including July 27, 2009.
Jul 23, 2009Consent to the filing of amicus briefs, in support of either party or of neither party, received from counsel for the Federal Respondent.
Jul 27, 2009Joint appendix filed (statment of costs received).
Jul 27, 2009Brief of petitioners Free Enterprise Fund and Beckstead and Watts, LLP filed.
Jul 31, 2009Brief amicus curiae of Center for Individual Rights filed.
Aug 3, 2009Brief amici curiae of Law Professors, Steven Calabresi, et al. filed.
Aug 3, 2009Brief amicus curiae of The Claremont Institute Center for Constitutional Jurisprudence filed.
Aug 3, 2009Brief amici curiae of American Civil Rights Union, et al. filed.
Aug 3, 2009Brief amici curiae of Cato Institute, et al. filed.
Aug 3, 2009Brief amici curiae of William P. Barr, et al. filed.
Aug 3, 2009Brief amicus curiae of Mountain States Legal Foundation filed.
Aug 3, 2009Brief amicus curiae of Coalition for Fair Lumber Imports filed.
Aug 3, 2009Brief amici curiae of Law Professors, Stephen Bainbridge, et al filed.
Aug 4, 2009The time within which to file respondents' briefs on the merits is extended to and including September 29, 2009.
Sep 28, 2009SET FOR ARGUMENT ON Monday, December 7, 2009.
Sep 28, 2009The time within which to file respondents' briefs on the merits is further extended to and including October 13, 2009.
Sep 29, 2009CIRCULATED
Oct 13, 2009Brief of respondent United States filed. (Distributed).
Oct 13, 2009Brief of respondents Public Company Accounting Oversight Board, et al. filed. (Distributed)
Oct 15, 2009Record received from U.S.C.A. for the D.C. Circuit. (1 box)
Oct 16, 2009Application (09A354) to extend the time to file a reply brief on the merits from November 12, 2009 to November 25, 2009, submitted to The Chief Justice.
Oct 19, 2009Application (09A354) granted by The Chief Justice for an extension of time within which to file petitioner's reply brief on the merits to and including November 23, 2009.
Oct 19, 2009Brief amici curiae of Council of Institutional Investors, et al. filed. (Distributed).
Oct 20, 2009Motion for divided argument filed by respondent United States.
Oct 20, 2009Brief amici curiae of Former Chairmen of the Securities and Exchange Commission filed. (Distributed)
Oct 20, 2009Additional Record received from the U.S.C.A. for the District of Columbia. (1 envelope)
Oct 20, 2009Brief amicus curiae of Center for Audit Quality filed. (Distributed)
Oct 20, 2009Brief amicus curiae of National Association of State Boards of Accountancy filed.(Distributed).
Oct 20, 2009Brief amici curiae of Constitutional and Administrative Law Scholars filed. (Distributed)
Nov 2, 2009Motion of the Solicitor General for divided argument GRANTED.
Nov 23, 2009Reply of petitioners Free Enterprise Fund, and Beckstead and Watts, LLP filed. (Distributed)
Dec 7, 2009Argued. For petitioners: Michael A. Carvin, Washington, D.C. For respondent United States: Elena Kagan, Solicitor General, Department of Justice, Washington, D.C. For respondents Public Company Accounting Oversight Board, et al.: Jeffrey A. Lamken, Washington. D.C.
Jun 28, 2010Adjudged to be AFFIRMED IN PART, REVERSED IN PART, and case REMANDED. Roberts, C. J., delivered the opinion of the Court, in which Scalia, Kennedy, Thomas, and Alito, JJ., joined. Breyer, J., filed a dissenting opinion, in which Stevens, Ginsburg, and Sotomayor, JJ., joined.
Jul 30, 2010JUDGMENT ISSUED.
Aug 13, 2010Record returned to U.S.Court of Appeals for the District of Columbia Circuit.
Recommended Citation: Free Enterprise Fund and Beckstead and Watts, LLP v. Public Company Accounting Oversight Board, SCOTUSblog, https://www.scotusblog.com/cases/free-enterprise-fund-and-beckstead-and-watts-llp-v-public-company-accounting-oversight-board/