- The Fifth Circuit nullifies SEC rules on private fund disclosures, impacting future regulations on climate and AI.
- Critics highlight wasted tax dollars and borrowed funds fueling SEC’s regulatory expansion, questioning its efficiency.
- The ruling challenges the SEC’s regulatory reach, possibly curbing future rules on climate, AI, and cryptocurrency oversight.
The Fifth Circuit Court of Appeals struck down U.S. Securities and Exchange Commission rules requiring private fund advisers to provide detailed disclosures to investors. The ruling, issued Wednesday, impacts the SEC’s regulatory approach to private funds and may influence future rules on climate, artificial intelligence, and crypto assets.
The court’s decision is part of a broader debate over the SEC’s jurisdiction. The agency, under Chair Gary Gensler, has faced criticism for allegedly overstepping its authority. In response to the ruling, Stuart Alderoty, a prominent SEC critic, questioned the financial cost of these regulatory efforts.
Alderoty, known for his vocal opposition to the SEC’s expanding reach, raised concerns on social media about the tax dollars spent on these initiatives. He highlight…
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