August 23, 2023

Brown Statement on SEC Private Fund Advisor Rule

WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the Securities and Exchange Commission’s (SEC) adoption of final rules regulating private fund advisers:

“I applaud the SEC’s action today. These rules will help protect workers’ pensions and create a more transparent and accountable private funds market,” said Brown.

Brown has previously voiced his support for these rules. In May 2023 and August 2022 Brown led his colleagues in two letters to SEC Chairman Gary Gensler urging the Commission to adopt the proposed private funds rules in order to enhance transparency in the private fund market and protect investors from conflicts and harmful practices.