‘Each part of the rule is unnecessary, unworkable, and unduly burdensome,’ lawyers say in opening brief.
Penalties top $5bn, Grewal seeks 'three Es.'
Study guide promises closer looks at marketing rule, valuations
‘We are now in a world where banks lend, but nearly all the risk is transferred to investors,’ Democrat Crenshaw says.
As Washington pressures the industry, advice-of-counsel is becoming 'fertile ground' for litigation.
The IAA suggests the SEC use the number of employees as the appropriate standard for determining the impact of its regulations on small advisers.
Opinions vary, and the real-world impacts of the rules are uncertain – lawyers are up in arms, while GPs are worried and dreaming of money flowing out of firms like a homeowner with a plumbing issue.
‘Quality controls and audit standards are necessary to maintaining this essential gatekeeping role,’ SEC says in fifth ‘gatekeeper’ case in two years.
The notice puts the industry on the clock.
In the wake of the most sweeping regulations since the financial crisis, Gensler was grilled this week by members of the Senate’s Banking, Housing and Urban Development committee about the new private fund rules.