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Private Funds Vacated Investment Adviser

Holland & Knight LLP

Private Fund Advisers, Breathe Easier: Fifth Circuit Vacates Private Fund Rules

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The New Orleans-based U.S. Court of Appeals for the Fifth Circuit (Court), on June 5, 2024, vacated the new private fund rules (Private Fund Rules) adopted by the SEC in August 2023, resulting in a significant victory for...more

Jones Day

Fifth Circuit Vacates SEC Private Fund Adviser Rules

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The U.S. Court of Appeals for the Fifth Circuit held that the new SEC regulation of private fund advisers exceeded the agency's statutory authority....more

ArentFox Schiff

Fifth Circuit Vacates SEC Private Fund Advisers Rule

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On June 5, the US Court of Appeals for the Fifth Circuit vacated a US Securities and Exchange Commission (SEC) Rule designed to provide investors in private funds — such as private equity, private credit, hedge funds, venture...more

Foley & Lardner LLP

Fifth Circuit Rules SEC Exceeded Its Authority in Adopting Private Fund Advisers Rule

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On June 5, 2024, a three-judge panel in the U.S. Fifth Circuit Court of Appeals ruled that the Securities and Exchange Commission exceeded its statutory authority in adopting the so-called “Private Fund Advisers Rule” (or the...more

King & Spalding

Fifth Circuit Vacates Private Fund Adviser Rules

King & Spalding on

On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules...more

Orrick, Herrington & Sutcliffe LLP

5th Circuit vacates SEC private fund adviser rule

On June 5, the U.S. Court of Appeals for the Fifth Circuit vacated an SEC rule that represented a significant change in how private funds and their fund advisers are regulated. As it stands, the decision will spare private...more

Goodwin

Fifth Circuit Vacates the Private Funds Rules And Constrains the SEC’s Rulemaking Authority

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Yesterday, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit vacated the “Private Funds Rules,” which the Securities and Exchange Commission (the “SEC”) adopted on August 23, 2023. The opinion of the...more

BCLP

Fifth Circuit Court of Appeals Vacates the SEC’s Private Fund Adviser Rules

BCLP on

On June 5, 2024, a three-judge panel of the Fifth Circuit Court of Appeals (the “Court”) vacated the Private Fund Adviser Rules (“PFAR”) that the Securities and Exchange Commission (the “SEC”) had adopted by a divided vote in...more

Akin Gump Strauss Hauer & Feld LLP

Fifth Circuit Vacates SEC Private Fund Advisers Rule

Today, the United States Fifth Circuit Court of Appeals vacated the SEC’s Private Fund Advisers Rule (88 Fed. Reg. 63026), which would have required, among other things, quarterly statements to investors in private funds,...more

Locke Lord LLP

FUNDamentals: Fifth Circuit Vacates New SEC Private Fund Adviser Rules

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On June 5th, 2024, the United States Court of Appeals for the Fifth Circuit (the “Court”) vacated the U.S. Securities and Exchange Commission’s (“SEC’s”) private fund advisers rules (the "Rules"), which would have imposed...more

Dechert LLP

SEC’s Private Fund Adviser Rule Vacated by the Fifth Circuit

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Yesterday, the United States Court of Appeals for the Fifth Circuit vacated the SEC’s Private Fund Adviser Rule in its entirety. Dechert LLP represented the Chamber of Commerce of the United States of America in filing an...more

Foley Hoag LLP

Fifth Circuit Vacates New Private Funds Rules

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In a 3-0 decision issued today, June 5, 2024, the Fifth Circuit Court of Appeals (the “Court”) vacated the new private funds rule adopted by the Securities and Exchange Commission (the “SEC”) on August 23, 2023 (the “Rule”)....more

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