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."
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A host of trade associations, including SIFMA and the Managed Funds Association, asked the SEC to extend the comment deadline for a proposed rulemaking on the use of predicative data analytics technologies.
The Managed Funds Association said an SEC proposal to prohibit a "securitization participant" from engaging in any transaction that would involve or result in a material conflict of interest, "could harm the securitization markets and, as a consequence, undermine the credit markets that depend upon securitization."
The Investment Company Institute reiterated “significant concerns” after the DOL reopened the comment period on the Employee Benefits Security Administration’s proposed amendments to the Qualified Professional Asset Manager Exemption.
SIFMA, SIFMA Asset Management Group and the Bank Policy Institute urged the SEC not to adopt a proposed rule which would prohibit an asset-backed security "securitization participant" from engaging in any transaction that would involve or result in a material conflict of interest.