FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. · ¶2
Held: Section 47(b) of the ICA does not impliedly empower private parties to sue for rescission of contracts that allegedly violate the Act. Pp. 3–10. (a) Congress, not the Judiciary, decides who may enforce federal law; when Congress creates a private right of action, it usually does so expressly. The Court has rejected the practice of fashioning rights of action, Alexander v. Sandoval, 532 U. S. 275, 287, because judicially created causes of action are difficult to reconcile with “ ‘the Constitution’s separation of legislative and judicial power,’ ” Egbert v. Boule, 596 U. S. 482, 491. If a statute does not spell out a right of action, courts examine its text and structure to determine whether it implicitly provides one. To create a private right, a statute must use “ ‘rights-creating’ language” aimed at protecting “ ‘a particular class of persons.’ ” Sandoval, 532 U. S., at 288–289.…Read in context ›
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