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

      The National Law Review· 22 hours ago

      ... exceeded its statutory authority in adopting the so-called “Private Fund Advisers Rule” (or the Rule) and, accordingly, vacated the Rule in full.[1] The Court’s interpretation of the SEC’s rule-making authority over private fund sponsors under Section 206(4) and 211(h) of the Investment Advisers...