On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules...more
6/10/2024
/ Certiorari ,
En Banc Review ,
Investment Adviser ,
Judicial Review ,
Pending Litigation ,
Private Funds ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Vacated
In late 2020, the SEC adopted1 rule amendments that require SECregistered investment advisers to, by November 4, 2022, switch their compliance regimes from the SEC’s current Advertising and Cash Solicitation Rules (Rules...more
3/23/2022
/ Advertising ,
Cash Solicitation Rule ,
Cherry Picking ,
Compliance ,
Disclosure Requirements ,
Endorsements ,
Investment Adviser ,
Marketing ,
New Rules ,
Private Funds ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Social Media
On February 9, in a 3-1 vote, the SEC approved a rule proposal (the "Proposed Rule”) that represents a sea-change in the Commission’s approach to private funds, with the Proposed Rule including provisions that would impose on...more