FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd.
The Court holds that Section 47(b) of the Investment Company Act does not give private parties an implied right to sue for rescission of contracts that allegedly violate the Act. The provision is a mandate telling courts how to exercise their remedial power once parties are before them — not a grant of a right to sue — and Congress entrusted enforcement of the Act primarily to the Securities and Exchange Commission. CASE: FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. AUTHOR: Barrett, J. DECIDED: 2026-06-11 OPINION: https://www.supremecourt.gov/opinions/25pdf/24-345_i42k.pdf…
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