McHenry Statement on SEC Vote to Approve Private Fund Rulemaking

Statement

"Once again, Chair Gensler's SEC is exceeding its statutory authority to impose onerous and costly mandates--this time on private funds. By applying a framework designed for retail funds used by everyday investors to private funds, this rule fails to acknowledge the differences between these markets. Instead of pursuing this one-size-fits-all approach, the SEC should be working to strengthen our public markets and create new opportunities for all investors to save and build wealth through our private markets--just like Republicans have done with our capital formation agenda. I urge the SEC to rescind this ill-advised rule, which is a thinly veiled attempt to dictate private fund management."

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