On July 25, 2024, in the case of Federation of Americans for Consumer Choice, Inc., et al. v. United States Department of Labor, et al., (“Federation of Americans”) the United States District Court for the Eastern District of Texas issued an order staying the effective date of the DOL’s final fiduciary rule (and related amendments
SEC Strikes out on “Private Fund Advisers Rule”
In a unanimous decision, the United States Court of Appeals for the Fifth Circuit vacated the SEC’s “Private Fund Advisers Rule.” The Fifth Circuit determined that existing law did not provide the SEC the authority to issue rules covering private investment funds.
Read the full US Regulatory Intelligence article, SEC Strikes out on “Private Fund