On-Demand Webinar

The Fifth Circuit Strikes Down the SEC’s Private Fund Rules – What’s Next?

Management Liability

Jun 07, 2024

30 minutes

On June 6, 2024, Woodruff Sawyer held a webinar titled “The Fifth Circuit Strikes Down the SEC’s Private Fund Rules – What’s Next?” Panelists included Walker Newell, former SEC Senior Counsel and Woodruff Sawyer’s Vice President of Litigation and Enforcement, and Patrick Cagney, financial services insurance expert.

Highlights from the on-demand webinar, which can be viewed here, include:

A detailed discussion of the Fifth Circuit’s opinion, including why the court decided that the SEC lacked statutory authority to adopt the 2023 Private Fund Adviser Rules
The SEC’s remaining options for challenging the court’s opinion (en banc, SCOTUS)
Whether investment managers should be pencils down on compliance – or whether it makes sense to leverage some preexisting compliance efforts going forward on a voluntary basis (e.g., to satisfy LP demand)
The opinion’s potential implications on other areas of the SEC’s regulatory agenda