More SEC Rules in Peril With Private Fund Rule Strikedown

What You Need To Know

• A three-judge panel said the SEC lacked the authority to use two rulemaking statutes in its private funds rules.
• One of the statutes has been the go-to authority for virtually all of the SEC's rules, according to IAA's Gail Bernstein.
• SEC officials are now busy mulling how the ruling will affect new and existing rules.