The private funds industry has united to push back against perceived overreach by the Securities and Exchange Commission (SEC), filing a lawsuit challenging expanded oversight of investment advisers.

For years, private equity, hedge funds, and venture capital firms have bristled under SEC regulations they consider unduly burdensome. On September 1, a cohort of influential trade groups took bold legal action, petitioning the US Court of Appeals for the Fifth Circuit to block recently enacted SEC rules.

Private Funds: “Commission Exceeded Its Statutory Authority”

At issue is the SEC’s Private Fund Adviser rule, a sweeping 660-page edict imposing new disclosures, auditing requirements, and third-party validation on private funds.

However, the regulation elicited vigorous industry objections even before its adoption last month. The final rules were announced on August 23.

The suit is brought by leaders including the Managed Funds Association, the National Venture Capital Association, and the Alternative Investment Management Association.

It decries the SEC for exceeding lawful authority and crippling investment. It argues the a

Go to Source to See Full Article
Author: Josh Adams

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details