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No. 18-1501


                   3m ZJ e

Oupreme Court of the Muiteb btateo



CHARLES   C. LIU and XIN WANG a/k/a LISA WANG,

                                  Petitioners,
                      V.

   SECURITIES AND  EXCHANGE   COMMISSION,

                                 Respondent.



          On Writ of Certiorari to the
          United States Court of Appeals
             for the Ninth Circuit



 BRIEF FOR  AMICUS  CURIAE  CATO INSTITUTE
        IN SUPPORT  OF  PETITIONERS


ILYA SHAPIRO
CATO INSTITUTE
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Washington, DC 20001
(202) 842-0200
ishapiro@cato.org




December 23, 2019


BRADLEY J. BONDI
  Counsel of Record
CAHILL GORDON &
  REINDEL LLP
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Suite 950
Washington, DC 20006
(202) 862-8910
bbondi@cahill.com
Counsel for Amicus Curiae
  Cato Institute


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