A US appeals court rejected an SEC rule intended to compel private funds — like hedge funds and private equity firms — to give investors more transparency via disclosures into these investments. The New Orleans-based Fifth Circuit Court decided the SEC exceeded its authority by adopting the rule in August
US appeals court strikes down SEC’s private fund rule
A US appeals court threw out the SEC’s private funds rule, handing a victory to the ever-expanding, nearly $27 trillion industry.