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In 2022, the NAM appealled the district court’s grant of judgment to the SEC on the NAM’s claims challenging the SEC’s rescission of the 2020 proxy firm rule. We argue in this appeal that the district court failed to engage on the substance of the NAM’s claims that the SEC failed to justify its rescission and to give the public a meaningful opportunity to comment in violation of the Administrative Procedure Act.

In July 2022, the SEC issued a final rule to rescind the 2020 critical reforms subjecting proxy advisory firms—unregulated third parties with outsized influence on shareholder votes and manufacturers’ corporate governance policies—to reasonable SEC oversight just like every other participant in the securities markets. The NAM sued the SEC in the Western District of Texas arguing that the 2022 recission is arbitrary and capricious as well as procedurally defective. We have asked the court to vacate the 2022 recission in its entirety and declare that the recession is unlawful and void.

Unfortunately, on December 4, 2022, the court denied the NAM’s motion for summary judgment and granted the SEC's cross-motion.

In July 2020, the NAM filed a lawsuit in the Northern District of California against the Trump administration’s unlawful restrictions to a wide range of nonimmigrant work visas. The restrictions, which were part of a June 22 Presidential Proclamation that essentially shut off the flow of high-skilled workers for hard-to-fill jobs in the manufacturing sector, were the subject of intense member interest and concern. The restrictions were so disruptive that they quickly began to inflict irreparable harm on our members, and we argued that they lacked legal basis because economic policy–the justification for the Proclamation—is a uniquely Congressional domain, and the Proclamation exceeds the President’s constitutional authority by rewriting existing law. On October 1, 2020, Judge White granted our request for a preliminary injunction. The Justice Department has appealed that decision to the Ninth Circuit for review.