Advisories September 22, 2023

Investment Funds Advisory: Lawsuit Filed Against the Securities and Exchange Commission Regarding Private Fund Adviser Rules and Reforms

The six trade associations that filed a petition for review in the Fifth Circuit Court of Appeals on September 1, 2023, called the Securities and Exchange Commission’s new regulations for the private funds industry, “arbitrary, capricious, an abuse of discretion, and contrary to law.” Our Investment Funds Team breaks down the petitioners’ claims.

  • The Private Fund Adviser Rules and Reforms, introduced on August 23, 2023, represented extensive regulatory changes
  • Petitioners claim that in approving these rules, the SEC exceeded its authority and violated the agency rulemaking process
  • Petitioners are requesting the court hold unlawful and vacate these regulations

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For more information, please contact someone from our Investment Funds Team.

Media Contact
Alex Wolfe
Communications Director

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