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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInPrivate Equity Regulation Becomes Biden Administration Focus – Bloomberg
Private equity could use a few friends in Washington. While buyout firms have been busy protecting their lucrative carried interest fee structure in Congress, Biden administration securities, antitrust and broadcast TV regulators have quietly been undermining the industry’s business model by proposing tough rules, slow-walking deals and scrutinizing acquisitions that would consolidate industries or result […]
Private Equity Scrambles to Comply With SEC Marketing Rule as Deadline Nears – WSJ
Private-equity firms are racing to adapt to new rules about marketing funds to prospective investors, anticipating a sweep by regulators to check compliance when the directive takes effect next month. The Securities and Exchange Commission’s marketing rule—430 pages of instructions intended to prevent investment advisers from misleading clients—is set to take effect Nov. 4, nearly […]
US SEC Ramps Up Scrutiny of Private Equity Firms’ Writedowns – Bloomberg
Buyout firms have been forced to erase billions of dollars from the value of their wagers in the economic downturn, and financial regulators are now scrutinizing whether managers are reducing fees for investors when those deals sour. The Securities and Exchange Commission has been ramping up inquiries to private equity firms about whether they adjust […]
May 5 Webcast — “Sustainable” Private Equity: An In-Depth Look at ESG Trends and Challenges
Please join Rodolfo Araujo, Christopher DeSa, Jessica Monson and Danielle Reyes for this free webcast.
Everybody take the week off, Wall Street firm tells staff
No calls, no emails and no meetings. That’s the order this week from Aquiline Capital Partners to its staff. The private equity firm is putting all employees on vacation, people familiar with the matter said. It’s an unusual move intended to recognize employees and avoid burnout from the physical and mental pressure of the COVID-19 […]
Biden’s SEC Enforcement What Should Private Fund Managers Expect?
How much more aggressive will the SEC be in its approach towards private funds and their managers? That will depend largely on whether Mr. Gensler is confirmed as Chair and who is selected as the next Director of Enforcement, as well as the SEC’s budget and ability to hire additional staff. But regardless, private fund […]
Private Equity and Cybersecurity: A Guide to Preparing for and Responding to a Breach | Proskauer – The Capital Commitment – JDSupra
A cyber breach can have serious legal, financial, and reputational consequences for a fund sponsor, as described in our previous post. As such, cybersecurity threats must be treated as business risks, not just a potential IT problem. Senior management at fund sponsors should take the lead to ensure that the sponsor is taking appropriate actions […]
SEC Enforcers Continue to Focus on Undisclosed Fees | LexBlog
In a series of enforcement cases over the past few months, the SEC has continued to bring actions focused on undisclosed fees charged to clients. Many of these cases have charged firms with fraud and other violations based on fees that were not adequately disclosed. While some attention has focused on retail wealth managers, institutional […]
Proskauer Launches Private Equity SEC Enforcement Database | Proskauer – Private Equity Litigation – JDSupra
Today, we are launching a proprietary database tracking all SEC enforcement actions involving private equity advisers. The database contains key information from the actions, including summaries of key issues, settlement terms, and relevant statutory provisions. The database will be an important resource for us and our clients, providing us with quick access to comparable cases […]
They’re the Biggest Investors in Private Equity. Now They’re Asking the SEC to Step In. | Institutional Investor
Sure, they have billions of dollars invested and spend millions in consulting and advisory fees. But now, some of the world’s largest private equity investors, along with an industry group, are demanding oversight over the industry they’re largely funding. On Tuesday, the Institutional Limited Partners Association and 35 of its member institutions sent a letter […]