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The SEC missed a deadline to appeal a case to the full 5th Circuit, which could potentially be a significant setback for SEC Chair Gary Gensler. This lapse means the ruling that the SEC exceeded its authority in regulating private funds will stand, casting doubt on other related regulations. The Justice Dept can still appeal to the Supreme Court. The lapse also affects transparency rules for US private funds, following a June ruling.
US SEC does not seek 5th Circuit review of private funds decision, throwing other rules into doubt https://t.co/VStrhAtkak https://t.co/eKwtaR1P96
The SEC has decided not to ask a US appeals court to review a June ruling that said the agency did not have the power to oversee investment advisers, according to a source familiar with the matter and court filings https://t.co/Yi5EScRPsO https://t.co/Ye4SWwDFRA
🔵 US SEC DOES NOT SEEK 5TH CIRCUIT REVIEW OF PRIVATE FUNDS DECISION, THROWING OTHER RULES INTO DOUBT The U.S. Securities and Exchange Commission (SEC) has decided not to ask a U.S. appeals court to review a June ruling that said the agency did not have the power to oversee… https://t.co/C8YTtAQbMS
