This week, a federal court ruled to vacate the Security and Exchange Commission’s (“SEC”) proposed fund disclosure rules. Ropes & Gray asset management partners Jason Brown, Joel Wattenbarger and Nicole Krea shared insight into what this will mean for private fund managers looking ahead.
In The Wall Street Journal PE Pro, Joel shared that the decision is “a best-case outcome for private fund managers.”
Jason told The New York Times DealBook that the SEC is considering other rules related to how private funds work with investors. “I think this case may embolden the industry to challenge those rules in court if they don’t come out the right way,” he said.
In Bloomberg Law, Nicole similarly said “we see a decision like this as maybe creating the potential for the SEC giving industry comment a bit more weight and thinking again before adopting rules like this, particularly under that provision of the Advisers Act.”
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.