Dave Lauer on Twitter: “The SEC’s new short selling and stock loan disclosure rules are being challenged by the Managed Funds Association, a group of hedge funds opposed to any kind of transparency or reform.”

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Wall Street Ponzis make last ditch effort to hide – Hedge fund groups sue SEC in effort to block short-selling rules

Hedge fund groups sue SEC in effort to block short-selling rules

Hedge Funds Are Challenging SEC’s New Short-Sale Disclosure Requirements

Hedge funds are challenging new Securities and Exchange Commission requirements that would force investors to reveal far more about short selling and related stock lending — the latest industry pushback on a spate of new rules by Wall Street’s main regulator.

The Managed Funds Association, the Alternative Investment Management Association and the National Association of Private Fund Managers said Tuesday that they had asked a federal appeals court in New Orleans to invalidate the regulations, which the SEC approved in October. The groups claimed in a statement that the agency didn’t adequately calculate the combined financial impact of the rules and that they “would apply contradictory and incoherent approaches to two aspects of the same underlying transaction.”

h/t welp007

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