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The American Investment Council urged FTC to withdraw its proposal to "comprehensive[ly] redesign" the premerger notification form. The Council argued that FTC lacks statutory authority to demand nearly all of the information that would be newly required.

Commentary by Steven Lofchie

Several industry trade associations filed a Petition for Review in the U.S. Court of Appeals for the Fifth Circuit seeking to "hold unlawful, vacate, and set aside" the SEC's final rules on private funds advisers. The associations argued that the SEC has "not shown any need for the intrusive rules it has adopted."