The U.S. Supreme Court ruled that a firm’s board of directors can’t be required to meet quarterly financial projections.
But it also said it’s not clear that the firm has to hold quarterly financial reports.
That’s because the rules say the board can make financial projections as long as it meets a set of criteria.
But the justices have yet to decide whether the firm is required to keep the projections in the board’s files.
The justices are expected to rule soon.
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Wall Street is on trial.
What’s the case?
Two days after the Supreme Court ruling, a federal appeals court upheld a decision by a judge that ordered the Justice Department to release records related to how Wall Street banks were bailed out by the U.N. and international organizations.
The government has been seeking the records under a Freedom of Information Act request.
The U and the International Monetary Fund have argued that the records should be kept secret because they would reveal how banks were used to finance the wars in Iraq and Afghanistan.
How it works: The government says the documents are required under a court order.
But they were requested after the court ordered the release of information about the banks’ finances, including the value of their bonds.
The judge wrote that the release could reveal “the extent to which the banks were effectively leveraged by the United States to advance U. S. foreign policy interests and financial interests.”
How the case is being fought: The Justice Department says it has been trying to get the records since December 2016, when it filed a lawsuit against the federal government seeking to get them.
The appeals court ruled that the government has failed to comply with that court order, but the Trump team has said the records are still subject to the court’s orders.
What we know so far: The Trump administration has sought the records from the Justice Departments office that handles the Freedom of Info Act.
The court has said it will hear arguments about whether the records need to be released at the same time.
That would give the Trump government time to file its appeal before the appeals court decides whether to hear the case.
The administration’s argument: The court ruling, while an important step forward, does not address the most important part of the case: the question of whether the documents should be released.
The Justice Deps office argued that because the court ruled the records needed to be kept confidential, the records were already subject to disclosure by the Justice department.
But that argument was rejected by a three-judge panel of the 4th U.C. Circuit Court of Appeals.
The ruling says the government is not required to release the records.
What it means for you: The Supreme Court has already ruled that Wall Street executives are protected from being held accountable for financial misconduct.
That ruling came in the aftermath of the financial crisis.
So the fact that the justices now want to force the government to keep records secret suggests that the administration is trying to shield Wall Street from accountability for the financial industry’s actions.
What to know: The issue of whether Wall Street has to keep financial projections in its files was first brought before the Supreme Justice Court in February.
But there have been a number of decisions that have upheld the government’s argument that the financial information is protected.
The Supreme Courts most recent decision was in a case about the release by the federal Office of Personnel Management of financial records that showed that former President George W. Bush used private funds to pay off debts that he owed the federal treasury.
The decision was decided against the government by a 3-2 vote.
The other three judges on the court dissented.
What happens next?
The Trump White House has said that it will appeal the decision.
That could mean that the Supreme Courts decision will be overturned by the Supreme Judicial Court, which would put the case on hold.
That case is expected to be heard next year.