Schulte co-managing partner Marc Elovitz quoted in the Financial Times  

Schulte Roth & Zabel co-managing partner Marc Elovitz recently shared his perspective with the Financial Times for the article, “Transparency rules for US private funds lapse after SEC allows deadline to pass.” 

The US Securities and Exchange Commission (SEC) will no longer enforce transparency rules for private equity and hedge funds after choosing not to challenge a court decision that struck them down. The SEC missed Monday's deadline to request a rehearing and although they could still appeal to the US Supreme Court, the court's conservative majority is generally skeptical of administrative power, making a successful appeal unlikely. 

Marc commented on the impact of this development, stating, “It’s a huge defeat. It was a signature rulemaking. This decision and the implications of it are a major setback.”  

Read the article here. (subscription required)