Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»BLOCKCHAIN NEWS»SEC ‘exceeds’ authority to disclose fees, U.S. appeals court rules
BLOCKCHAIN NEWS

SEC ‘exceeds’ authority to disclose fees, U.S. appeals court rules

By Crypto FlexsJune 6, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SEC ‘exceeds’ authority to disclose fees, U.S. appeals court rules
Share
Facebook Twitter LinkedIn Pinterest Email

Share this article

Follow Cryptocurrency Briefings on Google News

In a blow to the SEC’s alleged authority over the hedge fund sector, a U.S. appeals court struck down a rule requiring hedge funds and private equity firms to be more transparent about their fees and expenses.

The Fifth Circuit Court of Appeals ruled June 5 in a unanimous three-judge panel that the SEC exceeded its statutory authority in enforcing the law.

The court’s ruling came in response to challenges filed by six industry groups that argued the SEC’s 656-page rule would significantly change the sector’s operations and increase compliance costs. The rules mandated quarterly performance and fee reports, annual audits, and the elimination of preferential treatment for certain investors.

Representing the panel, Judge Kurt Engelhardt rejected the SEC’s argument that the Dodd-Frank Act, passed to reform the financial sector after the 2008 financial crisis, expanded its supervisory authority over private funds. I did. Engelhardt emphasized that the two provisions of the law cited by the SEC did not give the commission such authority, saying:

“Promulgation of the final rule was unauthorized and no part of it is effective.”

The court’s decision was echoed by critics of the SEC within the cryptocurrency industry, who have raised similar concerns about the regulator’s authority in recent years. In a series of lawsuits against cryptocurrency companies, the SEC used the Howey test as its legal framework, arguing that many cryptocurrencies qualify as securities under its jurisdiction. But cryptocurrency companies pushed back, arguing that the SEC lacks authority to regulate cryptocurrencies without explicit approval from Congress.

The SEC now faces potential action from Congress that could change the authority it asserts over the U.S. cryptocurrency industry. The Financial Innovation and Technology for the 21st Century Act (FIT21), which would largely transfer authority over the cryptocurrency industry to the Commodity Futures Trading Commission, recently passed the House of Representatives with strong bipartisan support.

Additionally, the SEC narrowly avoided a congressional resolution to repeal Staff Accounting Bulletin (SAB) 121, which would ban banks from owning cryptocurrencies, thanks to President Joe Biden’s veto.

Share this article

Follow Cryptocurrency Briefings on Google NewsFollow Cryptocurrency Briefings on Google News

The information on or accessed through this website has been obtained from independent sources believed to be accurate and reliable. However, Decentral Media, Inc. makes no representations or warranties about the timeliness, completeness or accuracy of any information on or accessed through this website. . Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or other financial advice. Information on this website may change without notice. Some or all of the information on this website may be outdated, incomplete or inaccurate. We may, but are not obligated to, update information that is out of date, incomplete or inaccurate.

Crypto Briefing can augment articles with AI-generated content generated by Crypto Briefing’s own AI platform. We use AI as a tool to deliver fast, valuable, actionable information without losing the insight and oversight of experienced cryptocurrency experts. All AI-augmented content is carefully reviewed by editors and writers, including for factual accuracy, and we pull from multiple primary and secondary sources whenever possible to create our stories and articles.

You should not make any investment decisions regarding ICOs, IEOs or other investments based on the information on this website, and you should not interpret or rely on the information on this website as investment advice. If you are seeking investment advice regarding an ICO, IEO or other investment, we strongly recommend that you consult with a licensed investment advisor or other qualified financial professional. We do not receive any form of compensation for analysis or reporting on ICOs, IEOs, cryptocurrencies, currencies, tokenized sales, securities or products.

See full terms and conditions.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025

POLYMARKET will re -enter the United States after the acquisition of QCEX $ 112 million.

July 22, 2025

Genius ACT specifies the House of Representatives, and Stablecoin Law can pass this week.

July 17, 2025
Add A Comment

Comments are closed.

Recent Posts

Forexus drops NFT coins -the public stage is sold in a few minutes.

July 27, 2025

Using XRP Cloud To Mine BTC And DOGE, Helping Investors Obtain Stable Daily Income

July 27, 2025

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025

Cardano (ADA) flashes optimistic signals. Did the meeting just started?

July 26, 2025

DL Mining Launches In The U.S.

July 26, 2025

Ripple CTO’s amazing regret for censorship

July 26, 2025

Ether Leeum validation exit exit queue will explode with 521,000 ETH ATH.

July 26, 2025

Wake’s GMX Hacking Analysis and Attack Scenario

July 25, 2025

Pepeto Announces $5.5M Presale And Demo Trading Platform

July 25, 2025

$75K In Rewards Announced For Valhalla’s First-Ever Tournament

July 25, 2025

Bitcoin Market Bullish? DL Mining Launches $100 Bonus + Sustainable Cloud Mining

July 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Forexus drops NFT coins -the public stage is sold in a few minutes.

July 27, 2025

Using XRP Cloud To Mine BTC And DOGE, Helping Investors Obtain Stable Daily Income

July 27, 2025

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025
Most Popular

Moemate begins its ecosystem development with the launch of $Mates on January 14th, reaching over 6 million users.

January 13, 2025

A Cypher Protocol contributor admitted to stealing and gambling gambling funds recovered from the exploit.

May 15, 2024

Bitfinex Alpha | BTC Soars, But Be Careful What You Wish For

December 5, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.