The Powell Perspective™

05/28/2025

Publius

The Unfolding Meaning of Jarkesy

This article explores the Supreme Court’s landmark decision in SEC v. Jarkesy and its far-reaching implications for constitutional law, regulatory frameworks, and the administrative state. The author analyzes how the majority opinion grapples with the interplay between the Seventh Amendment’s jury trial right and the scope of administrative adjudication, and discusses uncertainties about the decision’s true impact on federal agency enforcement. The piece highlights the ongoing debate about whether the ruling is merely a targeted correction or a broader challenge to the administrative state, noting the lack of clarity from the Supreme Court and the Fifth Circuit’s early signals on how lower courts might interpret the decision. Full article - https://www.yalejreg.com/nc/the-unfolding-meaning-of-jarkesy-by-matthew-strada/[3]

Supreme Court Decision Limits SEC’s Ability to Use Administrative Proceedings in Fraud Cases

This article breaks down the U.S. Supreme Court’s 6-3 ruling in SEC v. Jarkesy, which held that the Securities and Exchange Commission cannot impose civil penalties for securities fraud through in-house tribunals without violating the Seventh Amendment right to a jury trial. The Court’s decision fundamentally alters the SEC’s enforcement strategy, requiring such actions to be pursued in federal court and potentially impacting other federal agencies. The summary also touches on the broader constitutional considerations at play, including the separation of powers and the delegation of legislative authority, though the Court ultimately decided the case on Seventh Amendment grounds. Full article - https://www.jacksonlewis.com/insights/us-supreme-court-decision-limits-secs-ability-use-administrative-proceedings-fraud-cases[7]

The RE Doctor

This article highlights the trends and opportunities in commercial real estate for 2025, focusing on the positive outlook despite challenges like interest rate uncertainty and natural disasters. The industrial sector is expected to perform well, while multifamily and retail continue to show resilience. Affordable housing and public-private partnerships are seen as areas of growth and innovation. Full article - https://www.jpmorgan.com/insights/real-estate/commercial-real-estate/commercial-real-estate-trends

Blaine Pauses ADUs Amid Neighborhood Controversy

This article discusses the temporary halt on accessory dwelling units (ADUs) in Blaine due to neighborhood concerns. The pause is intended to ensure that ADUs do not overburden local infrastructure, such as streets and schools, and that they align with the neighborhood's character. This reflects broader debates about the role of ADUs in housing policy and urban planning. Full article - https://www.startribune.com/blaine-homeless-accessory-dwelling-unit/601357999

Skier Tom

PSIA-AASI Certification Standards and Instructor Training

The PSIA-AASI develops and maintains standards for professional ski and snowboard instructors across the U.S. They offer various certification levels, including Alpine and Adaptive disciplines, which require completing specific on-snow training hours and educational modules. The certification process enhances instructors' skills in teaching techniques, safety, and leadership, contributing to a high-quality learning experience for students. Full article - thesnowpros.org

PSIA Junior Instructor Program: Community Impact

The PSIA Junior Instructor Program is designed for young skiers aged 12-14, focusing on developing skills in instruction, public speaking, and professionalism. Participants earn national recognition as Junior Instructors and gain experience in managing group dynamics. This program not only enhances their skiing abilities but also opens doors to future careers in the outdoor industry. Full article - www.mapleskiridge.com/psia-junior-instructor-ski-program

Founder's Paradox

The Perils of Founder Worship

This article explores the dangers of elevating startup founders to mythical status and ceding excessive control to them, often at the expense of fundamental governance and legal norms. Drawing on the aftermath of high-profile cases like FTX, it argues for the early adoption of governance standards, startup-specific codes of ethics, and stricter due diligence by investors to prevent founder-centric decision-making from undermining accountability and investor protection. The piece emphasizes that neither innovation nor mission-driven rhetoric justify sidelining oversight, and that traditional board structures are essential for long-term success and risk management[2][4]. Full article - https://clsbluesky.law.columbia.edu/2025/05/20/the-perils-of-founder-worship/

The Reality of Corporate Governance for Start-ups

This article provides a practical perspective on how startups can implement corporate governance without sacrificing speed and agility. It highlights the importance of starting with simple, adaptable governance frameworks—such as advisory boards and regular management meetings—and gradually building more formal structures as the company grows. The article stresses that good governance is about creating transparency, accountability, and strategic clarity while supporting innovation and rapid scaling, ultimately making governance a competitive advantage rather than a bureaucratic obstacle for founders and teams[3][5]. Full article - https://www.chrysalix.com/news_insights/the-reality-of-corporate-governance-for-start-ups

Secrets of Capital Raising

Private Equity Outlook 2025: Recovery and Market Dynamics

This article discusses the private equity landscape in 2025, highlighting a market in transition. Despite optimism, challenges such as regulatory uncertainty and wide bid/ask spreads persist. The market sees a rise in deal volume and emphasizes strategic opportunities like direct lending and value-add real estate. Non-traditional players, including sovereign wealth funds and family offices, are increasingly influential in private equity investments. The industry is adapting to evolve market dynamics and regulatory changes. Full article - https://www.ocorian.com/insights/private-equity-2025-market-shifts-and-investor-priorities

Dealmaking Rebound and Fundraising Momentum in Private Equity

This article explores the rebound in private equity dealmaking, particularly in 2024, and questions whether fundraising momentum will soon follow. It addresses the challenges faced by private equity firms in regaining momentum and highlights the evolving nature of the industry. The report also notes the ongoing competition and the need for strategic investment strategies to navigate current market conditions. Full article - https://www.bain.com/insights/outlook-is-a-recovery-starting-to-take-shape-global-private-equity-report-2025/