Eugene Scalia is a friend to Wall Street who’s gradually eroding President Barack Obama’s signature financial regulatory reform, the 2010 Dodd-Frank law, The Wall Street Journal reports.
The Dodd-Frank foe is also the second-oldest of Supreme Court Justice Antonin Scalia’s nine children.
Eugene, a 49-year-old partner at law firm Gibson Dunn, has won five cases challenging financial regulators, The Journal reported.
Just last week, the younger Scalia successfully overturned a Dodd-Frank-based rule aimed at curbing speculative trading, Corporate Counsel reported on Wednesday.
And Friday, Eugene Scalia will make his case in Washington DC federal court against a rule requiring mutual funds that invest in commodities to register with the Commodity Futures Trading Commission.
The high court justice’s son will likely go into the fight determined to unravel Dodd-Frank.
Referring to Dodd-Frank, Eugene recently said at a hearing: “This is not a country where we look lightly at tens of millions of dollars in lost direct costs in restructuring entire industries.“
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