Hedge funds raise stakes in fight over dealer rule
Two prominent industry bodies file legal papers in key court case over SEC’s proposed extension of dealer definition
Alternative investment trade bodies have joined one of several court battles that could influence a controversial plan by US regulators to require more firms to register as securities dealers.
Industry groups Aima and the MFA separately filed legal documents with a US federal court last week in the case SEC v Justin Keener. The groups are hoping for a legal toehold that could strengthen future challenges to the Securities and Exchange Commission’s proposal to widen the scope of its dealer
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