AIFF is Back! | SaltWire - Wall Street's top regulator is set next week to adopt new transparency rules for the $20-trillion private investment fund industry, according to an official notice, acting on a proposal that has drawn sharp industry objections.
The final version of the proposal, which has not yet been released, may have changed after an extended notice-and-comment period. Democrats hold the majority on the commission, meaning the final version is virtually assured to pass. Industry organizations say the SEC lacks the legal authority to adopt the rule and point to a 2022 Supreme Court ruling which sharply curtailed the federal government's power to issue climate regulations.
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