NA of Private Fund Managers v. SEC

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Case overview

Case Number:

23-60471

Court:

Appellate - 5th Circuit

Nature of Suit:

Agency 

Companies

Government Agencies

Sectors & Industries:

  1. April 19, 2024

    Climate Lawsuits Aren't The SEC's Only Legal Headache

    The U.S. Securities and Exchange Commission has been grabbing headlines over the past couple of months as it attempts to fend off a host of lawsuits challenging recently enacted climate disclosure rules, but the agency has been no stranger to litigation brought by business groups opposing everything from new stock buyback disclosures to the agency's growing private fund oversight to its hands-off approach to crypto rule writing. 

  2. February 05, 2024

    5th Circ. Casts Doubt On SEC's New Private Fund Rules

    The Fifth Circuit on Monday questioned the U.S. Securities and Exchange Commission's authority to pass recent regulations governing private fund advisers that have drawn sharp criticism from the industry, although one judge suggested the court could stop short of nixing the rules in their entirety.

  3. December 18, 2023

    SEC Cites Dodd-Frank In Defense Of Private Funds Rule

    The U.S. Securities and Exchange Commission told the Fifth Circuit it had Congress' blessing under the Dodd-Frank Act to pass new rules targeting what it sees as harmful practices in the growing private funds industry, challenging a lawsuit filed by trade groups trying to stop the rules from taking effect.

  4. November 09, 2023

    Pro-Market Groups Prod 5th Circ. To Ax SEC Hedge Fund Rule

    Federal regulators overstepped their authority and botched the regulatory process by enacting requirements on private investment funds tailored for wealthy, sophisticated customers and the new rules should be revoked, multiple pro-business groups have told the Fifth Circuit.

  5. September 13, 2023

    Challenge To Private-Funds Rule Could Test SEC's Authority

    Litigation from Wall Street trade groups seeking to block new U.S. Securities and Exchange Commission rules aimed at increasing transparency and curbing certain practices among private equity and hedge funds represents a pivotal challenge to the regulator's authority with potentially far-reaching consequences, experts say.

  6. September 01, 2023

    Trade Groups Sue To Block SEC's Private Fund Rule

    Industry groups sued the U.S. Securities and Exchange Commission in the Fifth Circuit Friday, seeking to invalidate a newly passed regulation they say threatens to give the agency "sweeping new power" to oversee the private fund industry.