US court vacates SEC ‘dealer rule’ on Treasury markets

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C.

(Reuters) – A federal judge in Texas on Thursday struck down far-reaching regulations on the Treasury markets adopted earlier this year by the U.S. Securities and Exchange Commission, finding that the agency had overstepped its legal authority in issuing the regulations, according to court records.

The decision was the latest blow from conservative courts to regulations adopted under outgoing President Joe Biden, who is due to step down in January.

(Reporting by Douglas Gillison)