Cumming’s Take: Lobbyists’ Challenge to New SEC Rules Could Actually Succeed

Sept. 11, 2023 1:15 pm ET
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WSJ Pro

Wall Street lobbyists’ bid to free private-equity managers from regulatory oversight may not be the long-shot it seems to be at first glance.

On Sept. 1, a group of trade associations for private equity, venture capital and other types of asset managers challenged the Securities and Exchange Commission on a basic question generally thought to be long settled: Does the SEC have the power to make rules for private funds?

The…

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