The Gensler SEC Loses Again – WSJ

Talk about a rough few days for the Securities and Exchange Commission. The Fifth Circuit Court of Appeals last Wednesday blocked its private-fund disclosure rule. And the agency announced it is closing a regional office after getting sanctioned by a federal judge.

Unsatisfied with his day job, Chairman Gary Gensler has been seeking to expand the agency’s power over America’s growing private markets. Over the past decade, the number of private funds has tripled while their value has grown to $26.6 trillion from $9.8 trillion. Government pension funds chasing higher returns are among their biggest investors. Mr. Gensler wants a regulatory piece of this action, though Congress has never given him the power.

Source: The Gensler SEC Loses Again – WSJ