Legal
SEC Ends Legal Push to Revive Hedge Fund Fee Disclosure Rule
- Regulator faced Tuesday deadline to seek Supreme Court review
- Federal appeals court blocked rule in win for private funds
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The US Securities and Exchange Commission is ending a court fight over new hedge fund and private equity fee disclosures after a legal setback in Chair Gary Gensler’s push for more transparency.
Wall Street’s main regulator didn’t act by a Tuesday deadline to ask the Supreme Court to revive new disclosure requirements for the private funds industry over fees it charges, according to a person familiar with the matter, who asked not to be identified discussing the litigation. The SEC had said the new disclosures would benefit investors.