The Powell Perspective™

05/29/2025

Publius

Supreme Court Limits SEC’s Use of In-House Proceedings

The U.S. Supreme Court’s landmark decision in SEC v. Jarkesy significantly reshapes regulatory enforcement by ruling that defendants are entitled to a jury trial under the Seventh Amendment when the SEC seeks civil penalties. This holding renders the SEC’s reliance on in-house tribunals for such penalties unconstitutional, forcing the agency to pursue civil penalty cases in federal court. The decision has far-reaching implications for other federal agencies, challenging the broader use of administrative proceedings and potentially complicating agency enforcement strategies.
Full article - https://www.jacksonlewis.com/insights/us-supreme-court-decision-limits-secs-ability-use-administrative-proceedings-fraud-cases

Jarkesy v. SEC: Supreme Court Reins in Administrative State Enforcement

This article explores how the Supreme Court’s decision in SEC v. Jarkesy is a historic shift in administrative law, requiring jury trials for civil penalties and dismantling the SEC’s traditional reliance on in-house tribunals. The ruling emphasizes constitutional protections for defendants, specifically the Seventh Amendment’s jury trial right, and raises questions about the future of administrative proceedings across federal agencies. The case is widely regarded as a significant check on the so-called “administrative state,” offering greater strategic defense options for those facing agency actions.
Full article - https://blog.counselstack.com/jarkesy-v-sec-supreme-court-limits-in-house-penalties/

The RE Doctor

Senate Passes Bill to Increase Availability of Accessory Dwellings

The Senate has passed a bill aimed at easing the housing crisis by making accessory dwelling units (ADUs) more accessible. This measure requires local governments to allow ADUs on existing properties without imposing additional parking restrictions, thereby increasing the availability of affordable workforce housing. The bill also includes provisions to apply density bonus incentives to housing for military families and mandates a study on alternative financing mechanisms for ADUs. Full article - https://floridapolitics.com/archives/731669-senate-passes-bill-making-accessory-dwellings-more-available-to-ease-housing-crisis/

Commercial Real Estate in 2025: Challenges and Opportunities

This article provides an overview of the current commercial real estate landscape in 2025, highlighting both challenges and opportunities. The industrial sector remains robust, driven by demand for logistics and warehousing facilities. Meanwhile, the office sector is striving for stability as tenants increasingly favor sustainable spaces. The article discusses trends in lease renewals and rent increases, offering insights for real estate professionals looking to navigate these market shifts. Full article - https://www.ccim.com/real-estate-insights/blog/commercial-real-estate-2025-hurdles-and-horizons

Skier Tom

I couldn't find specific articles that match the request. However, I can provide a summary and a link related to ski instruction and PSIA certification:

PSIA Certification for Ski Instructors

PSIA-AASI offers professional certification for ski instructors, focusing on standards, training, and education. The certification process involves completing specific hours of on-snow teaching or training and familiarizing oneself with PSIA standards. For those interested in becoming certified ski instructors, PSIA-AASI provides free educational coursework and various training programs.

Full article - https://thesnowpros.org

PSIA Junior Instructor Program

The PSIA Junior Instructor Program is designed for young skiers aged 12-14, offering a chance to develop career skills like public speaking and group management. The program includes online modules and on-snow training, preparing participants for future roles in the outdoor industry. It not only enhances skiing skills but also provides opportunities for jobs in related fields.

Full article - https://www.mapleskiridge.com/psia-junior-instructor-ski-program

Founder's Paradox

Start Smart: Founder-Proof Your Startup

This article focuses on the importance of establishing effective corporate governance in startups to mitigate risks associated with founder dynamics. It emphasizes building a strong, independent board of directors and implementing formal governance practices to ensure objective decision-making and investor confidence. By doing so, startups can ensure long-term success and stability. Full article - https://www.svrlawyers.com/news-highlights-posts/2025/2/6/start-smart-founder-proof-your-startup

The Perils of Founder Worship

This article discusses the dangers of "founder worship" in startups, where founders are elevated to mythical status, potentially leading to poor governance and legal issues. It argues for early adoption of governance standards, ethics codes, and thorough due diligence to avoid regulatory risks, especially in high-risk sectors. It highlights the need for maintaining legal norms and accountability in venture-backed startups. Full article - https://clsbluesky.law.columbia.edu/2025/05/20/the-perils-of-founder-worship/

Secrets of Capital Raising

Private Equity Outlook 2025: Is a Recovery Starting to Take Shape?

This article discusses the outlook for private equity in 2025, indicating a potential recovery. Dealmaking rebounded in 2024, but regaining fund-raising momentum may take longer. The recovery is driven by factors such as an easing monetary cycle and pent-up dry powder. Full article - www.bain.com/insights/outlook-is-a-recovery-starting-to-take-shape-global-private-equity-report-2025/

State of Private Markets: Q1 2025

This report highlights the trends in private markets, especially in venture capital. The first quarter of 2025 saw a healthy start in startup fundraising with $21 billion raised, but the rate of new investments slowed. Despite this, the median Series D pre-money valuation increased significantly. The report also notes that venture activity tends to accelerate as the year progresses. Full article - https://carta.com/data/state-of-private-markets-q1-2025-full-report/