Court concluded this double for-cause protection arrangement violates the Constitution: !
PAGE 80 STATES In Free Enterprise Fund, the Supreme Court made clear that Morrison only extends so far. The Free Enterprise Fund Court dealt with the members of the Public Company Accounting Oversight Board (“PCAOB”) who could be removed only by the Securities and Exchange Commission (“SEC”). 561 U.S. at 483. The PCAOB board members could only be removed by the SEC for cause, and the members of the SEC are principal officers who can only be removed by the President for cause. Id. at 486–87. The Court concluded this double for-cause protection arrangement violates the Constitution: