Credit Suisse Securities (USA) LLC v. Billing

Credit Suisse Securities LLC v. Billing, 551 U.S. 264, was a decision by the Supreme Court of the United States, which held that the securities markets were exempt from the scope of antitrust laws.

Judgment

The Supreme Court held that creation of the United States Securities and Exchange Commission implicitly exempted the regulated securities industry from antitrust lawsuits under other existing laws. Justice Thomas dissented, arguing that the laws creating the SEC explicitly mention that securities regulations are in addition to, not instead of, existing law.