LSTA Applauds PFA Rule Litigation Decision
We are pleased with the 5th Circuit Court of Appeals’ decision to vacate the SEC’s proposed Private Fund Advisors Rule. The Court agreed with the…
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The Fifth Circuit Takes on the Private Fund Advisers Rule
The 5th Circuit Court of Appeals heard oral argument in the Joint Trade Associations' case against the SEC on the Private Fund Advisers Rule.
Private Funds Rule Litigation: Oral Arguments Are Scheduled
Important Update on the fast-moving Joint Trade Associations' litigation against the SEC on the Private Fund Advisers Rule: The 5th Circuit has scheduled oral arguments…
Chamber v. SEC: More Bad News for the SEC
Recent developments in the Chamber's litigation against the SEC on the Share Buyback Rule augur well for the Joint Trade's Private Fund Advisers lawsuit.
Private Funds Rule Litigation: Lots of Action at the Fifth Circuit
Lots of news at the 5th Circuit: We submitted the Opening Brief in the case brought by the LSTA and four other trade associations against…
Private Fund Disclosure Rules: Better But Not Good
As previously reported, the SEC has adopted sweeping new disclosure obligations and restrictions on private funds.
SEC Private Fund Adviser Rule Exempts CLOs, Hammers All Other Private Funds
“Ahistorical, unjustified, unlawful, impractical, confusing, and harmful” is how Commissioner Hester Pierce described the Private Fund Disclosure Final Rules in her dissenting statement. “[T]hese rules are arbitrary and capricious”…
SEC Adopts Final Private Fund Advisers Rule: CLOs Are Exempted
The SEC today narrowly adopted a final Private Fund Advisers Rule that will apply to advisers of private funds including managers of loan funds. We…
The SEC’s “Regulation Raceway” meets the LSTA’s Process Advocacy
The SEC’s ”Regulatory Raceway” has imposed unusually short comment periods for even the most complex rulemakings. The LSTA has been taking an active role in…
Private Funds Disclosure Rule and CLOs: Deep Dive Part 2
This is the second part of the deep dive into our comment letter, focusing on the SEC’s lack of statutory authority and their failure to…
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