Partner Christine Schleppegrell was quoted in a National Law Journal article that discussed a federal appeals court decision rejecting the US Securities and Exchange Commission’s (SEC’s) new disclosure rules for private fund managers.
Those rules, like the regulation for private fund advisers, are being challenged as beyond the agency’s statutory authority.
Christine said that the SEC also has a “robust agenda” of enforcement actions and rule proposals in areas such as artificial intelligence and cryptocurrency, which may influence the agency’s decision on whether to expend resources on fighting to save the private funds adviser rule in the courts.
The SEC’s decision to appeal will likely be based in part on whether the agency “wants to focus on getting those other rules across the finish line or whether it wants to instead direct attention and staffing toward examinations and enforcement and try and focus on getting their policy views across through another non rulemaking avenue,” Christine said.
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