5th Circuit Partially Grants Associations’ Petition Challenging Securities Rules

( August 28, 2025, 1:50 PM EDT) -- NEW ORLEANS — A panel of the Fifth Circuit U.S. Court of Appeals granted in part a petition by three institutional investment management membership associations challenging rules the Securities and Exchange Commission adopted in 2023 to increase transparency in the securities lending and short sale markets, holding the SEC did not “consider and quantify the cumulative economic impact of the rules” but rejecting the associations’ other arguments....