U.S. Court of Appeals for the Fifth Circuit

Case Status

Docket Number


Case Updates

Fifth Circuit holds that trade association has standing to challenge SEC’s Private Fund Advisors Rule, and vacates rule as enacted beyond the agency’s statutory authority

June 05, 2024


U.S. Chamber files amicus brief urging Fifth Circuit to strike down the SEC's Private Fund Advisors Rule as beyond the agency’s statutory authority

November 08, 2023

The Chamber's brief also argues that the SEC was arbitrary and capricious in enacting the rule without assessing its economic effects or articulating any meaningful, non-speculative benefit.

Steven A. Engel, Michael H. McGinley, Justin W. Aimonetti, and Brian A. Kulp of Dechert LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

Case Documents