We are pleased to share this issue of Fintech in Brief, which discusses that recently adopted rules applicable to private fund advisers will not come into effect after all. These changes, which were adopted by the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940 last August, were vacated by the U.S. Court of Appeals for the Fifth Circuit in June 2024. The SEC has allowed the deadline for appeal to the U.S. Supreme Court to pass, meaning the rules will not be implemented.

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