US private funds industry sues securities regulator over new rules

Six private equity and hedge fund trade groups have sued the U.S. Securities and Exchange Commission (SEC), claiming that the agency overstepped its authority by implementing new expense and disclosure rules for the private funds industry.

reuters.com

Relevant topic timeline:

8/23/2023

US SEC overhauls rules for $20 trillion private fund industry

The U.S. Securities and Exchange Commission (SEC) has implemented new rules aimed at increasing transparency and accountability in the private equity and hedge fund industry, requiring the issuance of quarterly fee and performance reports, disclosure of fee structures, and annual audits, while banning preferential treatment for certain investors.

8/23/2023

SEC makes biggest overhaul of $20T private equity, hedge fund...

The Securities and Exchange Commission voted to overhaul rules for private equity and hedge funds, requiring greater transparency and accountability, but didn't make it easier for investors to sue fund managers or ban arrangements that give certain investors preferential treatment.

9/1/2023

Lawsuit alleges no due diligence in Amazon's Project Kuiper launch contracts to Blue Origin, ULA

Amazon and its board, including Jeff Bezos, are being sued by an institutional investor over the launch contracts awarded to Bezos' space company, Blue Origin, for Amazon's Project Kuiper mega-constellation.

9/1/2023

Private equity, hedge funds sue SEC over new disclosure rules

A consortium of industry groups has filed a lawsuit against the SEC to block new rules that require private equity and hedge funds to disclose performance and fees, arguing that the rules will harm investors and reduce investment opportunities.

9/21/2023

FTC Sues Private Equity-Owned Anesthesia Company for Illegal Monopolization, Causing Major Price Hikes for Patients

The Federal Trade Commission (FTC) has filed a lawsuit against U.S. Anesthesia Partners Inc. and its private-equity backer, Welsh, Carson, Anderson & Stowe, alleging that they engaged in anticompetitive practices to monopolize the anesthesia market in Texas and drive up prices for patients. This case highlights the FTC's scrutiny of smaller buyouts by private-equity firms and their potential to create monopoly power.

9/22/2023

FTC Sues Anesthesia Group and Private Equity Firm for Anticompetitive Consolidation Driving Up Healthcare Prices

The Federal Trade Commission has filed an antitrust lawsuit against a doctors' group and a private equity firm, accusing them of consolidating doctors' groups in Texas to raise prices for anesthesia services and harm fair competition.

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Posted 9/1/2023, 7:27:00 PM

US private funds industry sues securities regulator over new rules

reuters.com

Relevant topic timeline:

8/23/2023

US SEC overhauls rules for $20 trillion private fund industry

8/23/2023

SEC makes biggest overhaul of $20T private equity, hedge fund...

9/1/2023

Lawsuit alleges no due diligence in Amazon's Project Kuiper launch contracts to Blue Origin, ULA

9/1/2023

Private equity, hedge funds sue SEC over new disclosure rules

9/21/2023

FTC Sues Private Equity-Owned Anesthesia Company for Illegal Monopolization, Causing Major Price Hikes for Patients

9/22/2023

FTC Sues Anesthesia Group and Private Equity Firm for Anticompetitive Consolidation Driving Up Healthcare Prices