Solicitor General Urges High Court To Hear ICA Private Right Of Action Case

( June 2, 2025, 8:52 AM EDT) -- WASHINGTON, D.C. — The U.S. solicitor general, on behalf of the United States, urged the U.S. Supreme Court to hear a case brought by multiple closed-end funds (CEFs) regarding whether a section of the Investment Company Act of 1940 (ICA) includes a private right of action, arguing that Congress didn’t mean for the provision to create a private right of action....

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