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Fund Industry Sues SEC To Overturn New Dealer Definition

By Jessica Corso (March 18, 2024, 10:21 PM EDT) -- Private fund associations sued the U.S. Securities and Exchange in Texas on Monday in the hopes of reversing the agency's recent decision to bring proprietary trading firms and some hedge funds under its authority as securities dealers, a decision that the suing groups have said could drive some hedge funds out of business....

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