invoked test for analyzing commercial speech
regulations (regulations that restrict speech
that proposes an economic
transaction) has recently been criticized by
several justices. At
present, only four justices seem committed to
using the test.
Regulations affecting commercial speech do not violate the First Amendment if:
1. The regulated speech proposes an economic transaction involving an illegal activity.
2. The regulated speech is misleading.
3. The regulation substantially advances an important government interest, and the regulation is narrowly tailored to serve the government's interest.