As private equity firms and hedge funds breathe a sigh of relief that a prohibitive new rule has been struck down, they now face the prospect that their regulator could try to revive it.
In June, a US court of appeals overturned the Securities and Exchange Commission’s (SEC) private fund adviser rule, which funds had argued could destroy their business.
The rule, which would have forced funds to provide investors with granular quarterly performance updates and restricted their ability to offer
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