Private Fund Adviser Rules Vacated: Key Takeaways

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Private Fund Adviser Rules Vacated: Key Takeaways

theventurealley

2 years ago

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Written by: David Solander, Meghan Carey and Jessica McKinney
A three-judge panel of the US Court of Appeals for the Fifth Circuit unanimously vacated the US Securities and Exchange Commission (SEC)’s private fund adviser rules and amendments (Private Fund Rules),[1] stating that “no part of it can stand.”[2]
In August 2023, the SEC adopted the Private Fund Rules, which included five new rules: the Private Fund Audit Rule, the Quarterly Statements Rule, the Restricted Activities Rule, the Advise...

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