Official announcements from regulatory bodies or news reports from reputable financial news sources

SEC Ends Legal Battle Over Hedge Fund and Private Equity Fee Disclosure Rule

Sep 4, 2024, 03:53 PM

The U.S. Securities and Exchange Commission (SEC) has decided to end its legal efforts to revive the hedge fund and private equity fee disclosure rule. This decision marks the conclusion of a high-stakes legal battle aimed at increasing transparency in the financial industry. The SEC's move comes after it missed a Supreme Court deadline, effectively halting its push for more stringent disclosure requirements for hedge funds and private equity firms. The rule was initially intended to provide greater insight into the fees charged by these financial entities, but it faced significant opposition and legal challenges, including from the Fifth Circuit.