As SEC Moves to Reverse Dealer Cases, One Firm Says No

Also, Bessent hits the Hill again; CFTC Democrat explains her vote to delay hedge fund rule

Last month, the SEC moved to dismiss several cases against penny stock trading companies it accused of being “unregistered dealers.” The seemingly obscure move has broad ramifications for the hedge fund industry, which sees ending the enforcement actions as key to stamping out one of Gary Gensler’s more loathed policies. But the effort took a surprising…