Much ink has been spilled on the recent decision by the U.S. Supreme Court in SEC v. Jarkesy, with some commentators proclaiming that the decision signals the end of the administrative state and others dismissing it as having few practical consequences. In this guest article, MoloLamken attorneys Eric Nitz and Kenneth Notter discuss the Court’s decision in Jarkesy, its implications for the SEC and other agencies as well as for pending and future enforcement actions, and what Jarkesy, when read together with Loper Bright Enterprises v. Raimondo, means for the future of the SEC’s approach to rulemaking and enforcement. See our two-part series on the implications of Loper Bright: “Demise of Chevron Deference and Effect on Cyber and Privacy Enforcement” (Jul. 17, 2024), and “Impacts on Congress, Courts and Agencies” (Jul. 24, 2024).