A coalition representing major private-equity and hedge funds has filed a lawsuit against the Securities and Exchange Commission (SEC) to block newly enacted regulations. The lawsuit asserts that the SEC exceeded its legal boundaries when implementing the rules.
![(L to R) George Soros, chairman of Soros Fund Management LLC, James Simons, director of Renaissance Technologies LLC, John Alfred Paulson, president of Paulson & Co., Inc, Philip Falcone, senior managing director of Harbinger Capital Partners, and Kenneth Griffin, CEO and managing director of the Citadel Investment Group attend the House Oversight and Government Reform Committee at a Capitol Hill hearing on the topic of "The Regulation of Hedge Funds" on November 13, 2008 in Washington, DC. Soros testified on the topic of "The Regulation of Hedge Funds" during the hearing. AFP PHOTO/TIM SLOAN (Photo credit should read TIM SLOAN/AFP via Getty Images)](https://krugmaninsights.com/wp-content/uploads/2023/09/R-13.jpg)