The decision overturns a 91-year-old precedent and, legal experts say, strips the SEC and CFTC of their longstanding independence.
The Supreme Court ruled 6-3 that the President can remove independent agency commissioners at will, overturning a 91-year-old precedent. Legal experts say the decision strips the SEC and CFTC (U.S. securities and derivatives regulators) of their longstanding independence, a shift that could reshape how the two market watchdogs operate under presidential control.