The Supreme Court Had an Eventful Term — Here's What Its Decisions Mean for Financial Advisors

Tax attorney Joshua Odintz was quoted in a Financial Planning article recapping recent U.S. Supreme Court decisions affecting wealth management. The article highlighted several cases, including the end of the Chevron doctrine in Loper Bright Enterprises v. Raimondo, that could lead to increased litigation challenging federal agency rules and regulations. Mr. Odintz noted that the Corner Post, Inc. v. Board of Governors of the Federal Reserve System decision, in which the court ruled that the six-year statute of limitations to sue under the Administrative Procedure Act begins when a plaintiff is harmed by a particular rule rather than when the rule was issued, could ultimately be "much more impactful" than the end of the Chevron doctrine.

"Everyone now has their own personal statute of limitations," he said.

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Holland & Knight announced the formation of its Chevron Deference Working Team in advance of the U.S. Supreme Court's June 28, 2024, Loper decision, which overturned the Chevron deference doctrine and will lead to a period of regulatory changes and potential legal challenges for some time.