Hedge Funds Sue SEC Over Dealer Registration in Latest Salvo
- Trade groups say new rule is too vague and arbitrary
- SEC says aim is to add oversight to high-frequency traders
The US Securities and Exchange Commission headquarters in Washington, DC.
Photographer: Valerie Plesch/BloombergThis article is for subscribers only.
Hedge funds launched another legal salvo against the Securities and Exchange Commission, this time over new rules requiring some firms to register as dealers in the US Treasuries market.
The Managed Funds Association, Alternative Investment Management Association and National Association of Private Fund Managers filed a lawsuit on Monday in federal court in Texas to block the SEC’s rules.