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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-09-18T13:45:00
A lawsuit filed by industry groups alleging the Securities and Exchange Commission (SEC) overstepped when it passed new rules for private fund advisers last month is unlikely to stop their implementation, according to experts.
The lawsuit, filed in the U.S. Court of Appeals for the Fifth Circuit, claims the SEC exceeded its statutory authority when it passed the rules intended to increase transparency and accountability to investors in a private fund market estimated to exceed $26 trillion.
The groups that brought the suit included the National Association of Private Fund Managers, Alternative Investment Management Association, American Investment Council, Loan Syndications and Trading Association, Managed Funds Association (MFA), and National Venture Capital Association.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
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2024-06-05T20:21:00Z By Aaron Nicodemus
A federal appeals court struck down the Securities and Exchange Commission’s private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.
2024-02-09T14:06:00Z By Kyle Brasseur
Large hedge fund advisers will be required to disclose more information on their investment strategies, investment exposure, operations, and more as part of a rule change jointly adopted by the Securities and Exchange Commission and Commodity Futures Trading Commission.
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.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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