January 26, 2022

Toomey Statement on SEC’s Proposed Disclosure Mandates for Private Funds

Washington, D.C. – U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) issued the following statement on the Securities and Exchange Commission’s (SEC) new proposed disclosure mandates for private funds.

“Over time, the reporting and regulatory burdens imposed on public companies have increased so much that they have kept companies from going public. Rather than easing the excessive burden of being a public company, the SEC is now attempting to inflict similarly excessive regulations on the private markets such as today’s proposed rule.”