SEC Ends Legal Push to Revive Hedge Fund Fee Disclosure Rule

The US Securities and Exchange Commission is ending a high-stakes legal fight over hedge fund and private equity fee disclosures, a setback for Chair Gary Gensler’s push to bring more transparency to the industry.

The regulator didn’t act by a Tuesday deadline to ask the Supreme Court to revive new disclosure requirements for fees charged to investors, according to a person familiar with the matter, who asked not to be identified discussing the litigation.

Gary Gensler, chair of the US Securities and Exchange Commission

Photographer: Jeenah Moon/Bloomberg

“We decline comment beyond public filings,” the SEC said in a statement.

In June, a three-judge panel of the 5th US Circuit Court of ...