The Supreme Court on Monday struck down part of the anti-fraud law enacted in response to Enron and other corporate scandals from the early 2000s, but said its decision has limited consequences.
The justices voted 5-4 that the Sarbanes-Oxley law enacted in 2002 violates the Constitution’s separation of powers mandate. The Court says the president must be able to remove members of a board that was created to tighten oversight of internal corporate controls and outside auditors.