News & Analysis as of September 7, 2025

First Amendment › Gag Rule

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The First Amendment to the United States Constitution prohibits the government from making laws respecting the establishment of religion, prohibiting the free exercise of religion, abridging the freedom of speech... more +

The First Amendment to the United States Constitution prohibits the government from making laws respecting the establishment of religion, prohibiting the free exercise of religion, abridging the freedom of speech or the press, preventing citizens from peacefully assembling, or interfering with citizens' ability to petition the government for redress of their grievances. The First Amendment is one of the most sacred aspects of the American legal tradition and has spawned a vast body of jurisprudence and commentary. less -

Appeals Court Denies Challenge to SEC Rule Requiring Settling Parties not to Deny Liability

BCLP on 8/28/2025

The SEC’s longstanding practice of requiring settling parties not to deny the charges against them, denounced as the “gag rule” by critics, recently withstood another legal challenge. ...more

SEC Rejects Call to Alter "No Admit/No Deny" Settlement Rule

Jones Day on 2/12/2024

On January 30, 2024, the Securities and Exchange Commission ("SEC") denied a Petition for Rulemaking to amend SEC Rule 202.5(e), known as the SEC's "no-admit/no-deny" rule or, more pejoratively, the "gag rule."...more

Why Does The SEC Insist That Some Defendants Lie?

Allen Matkins on 12/14/2018

In 1972, the Securities and Exchange Commission adopted what has become known as the "gag rule"...more

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