H. P. Grice: implying and disimplying

This Article demonstrates that Congress has already delegated to the Commission all the authority the Commission needs to “disimply”—to redefine through the rulemaking process—the most significant of these implied private remedies, the Rule 10b-5 cause of action. In addition, the Commission can disimply these remedies in a manner that fully preserves the Commission's own enforcement authority.