How hedge funds are fighting back against the SEC’s ‘aggressive’ agenda

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Financial Times 15h ago

How hedge funds are fighting back against the SEC’s ‘aggressive’ agenda - Financial Times

Quick Summary:

Yes, I think we will do that,” said Bryan Corbett, president and chief executive of the Managed Funds Association, which represents some of the world’s largest hedge funds and joined Citadel in the private funds lawsuit.

Nevertheless, by February 2022, when Citadel called Scalia, it had become clear to much of the industry that Gensler was unlikely to fundamentally overhaul the proposal, and that only the courts would be able to resolve their disagreement with the SEC.“Citadel is proud of our constructive engagement with the SEC, supporting rules and reforms that strengthen market efficiency, resiliency and integrity.

But the hedge funds and private equity firms felt that the lobbying efforts encountered a cold reception, according to multiple people who attended meetings with the chair.