By
Aaron Nicodemus2024-06-05T20:21:00
A federal appeals court struck down the Securities and Exchange Commission’s (SEC) private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.
The unanimous decision to vacate the rule by the U.S. Court of Appeals for the Fifth Circuit, released Wednesday, hinged on the court’s interpretation of provisions to protect “retail” investors contained in the Investment Advisers Act and the Dodd-Frank Act.
The SEC argued the provisions covered all investors, giving them the authority to regulate private funds. Private funds, owned by more sophisticated investors, have long been exempted from the same regulations that apply to funds owned by retail investors. The court ruled Congress must explicitly give the SEC the authority to regulate private funds.
2024-12-13T17:55:00Z By Aaron Nicodemus
A U.S. Appeals Court overturned a Securities and Exchange Commission rule that had required companies listed on the Nasdaq stock exchange to disclose whether their boards had women or minority members–and if not, why not.
2023-09-18T13:45:00Z By Aaron Nicodemus
A lawsuit filed by industry groups alleging the Securities and Exchange Commission overstepped its authority when it passed new rules for private fund advisers is unlikely to stop their implementation, according to experts.
2023-08-28T13:44:00Z By Aaron Nicodemus
Even though compliance dates for the Securities and Exchange Commission’s new private fund rules are a year to 18 months away, compliance teams should start analyzing the impact now, according to experts.
2025-10-27T20:16:00Z By Adrianne Appel
California has delayed the release of draft greenhouse gas reporting rules for businesses until early 2026, the California Air Resources Board said.
2025-10-27T19:06:00Z By Neil Hodge
New rules that have recently come into effect across the EU will allow for greater transfers of data between companies, though experts fear the changes could conflict with Europe’s strict privacy legislation, which protects personal information.
2025-10-24T18:05:00Z By Adrianne Appel
Nine states are collaborating to write and enforce comprehensive data privacy laws, in an effort to protect consumers across jurisdictions and due to the absence of a broad, federal privacy law.
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