US Appeals Court Overturns SEC Oversight Rule for Private Equity, Hedge Funds

Source: US News & World Report

“A U.S. appeals court rejected a Securities and Exchange Commission rule intended to give investors more transparency into private funds, but which the nearly $27 trillion industry said threatened to fundamentally change how it does business. The New Orleans-based 5th U.S. Circuit Court of Appeals decided that the SEC exceeded its authority by adopting the rule in August 2023. It ruled in favor of six private equity and hedge fund groups that challenged the regulations.” (06/05/24)