SEC Fights Challenge to Hedge Fund and PE Firm Fee Disclosure Rules
- Agency chair Gensler tightened grip on fast-growing industry
- Private fund groups say regulator overstepped its authority
The SEC headquarters in Washington, DC.
Photographer: Graeme Sloan/BloombergThis article is for subscribers only.
The US Securities and Exchange Commission is trying to fend off a legal challenge to agency rules requiring hedge funds and private equity firms to detail quarterly fees and expenses to investors.
The regulator faced tough questioning from a three-judge panel as it faced off Monday against the Managed Funds Association and other trade groups in a hearing at the US Fifth Circuit Court of Appeals in New Orleans.