US private funds industry sues securities regulator over new rules

📆 2023/09/02 01:17:00
📰 Reuters

⏱ Reading Time:
16 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Six private equity and hedge fund trade groups on Friday sued the U.S. Securities and Exchange Commission (SEC), arguing the agency overstepped its statutory authority when adopting sweeping new expense and disclosure rules last week.

SEC Chair Gary Gensler said the rules will increase transparency and competition in the private funds industry, which oversees around $20 trillion in assets and has been accused by advocacy groups of opacity and conflicts of interest.

The changes require private funds to issue quarterly fee and performance reports and to perform annual audits. They also require that funds disclose certain fee structures, and bar them from offering some investors preferential treatment when it comes to their portfolio exposures and ability to cash out.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US private funds industry sues securities regulator over new rules By ReutersUS private funds industry sues securities regulator over new rules
Source: Investingcom - 🏆 450. / 53 Read more »

AI isn't overhyped, but some of the stocks are: JMP Securities CEOJMP Securities CEO Mark Lehmann joins 'Squawk on the Street' to discuss Lehmann's expectations for the economy going forward, if there's enough disinflation to soothe the 'hawks', and the chief executive's thoughts on artificial intelligence.
Source: CNBC - 🏆 12. / 72 Read more »