Tag: Rules

Private Funds Exhale Over SEC Rule Despite Big Compliance Costs

The SEC adopted, by a 3-2 vote Wednesday, regulations aimed at increasing transparency in the multi-trillion-dollar private fund industry. But the agency eased—and in some cases abandoned—some of the most contentious parts of its initial proposal. The SEC dropped a plan that would’ve exposed more fund managers to legal liability for mistakes, while softening its approach on side letters that…

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SEC Enhances the Regulation of Private Fund Advisers

To enhance transparency, the final rules will require private fund advisers registered with the Commission to provide investors with quarterly statements detailing certain information regarding fund fees, expenses, and performance. In addition, the final rules will require a private fund adviser registered with the Commission to obtain and distribute to investors an annual financial statement audit of each private fund…

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Reading the Tea Leaves: What Could Cybersecurity Rules Tell Us About Final Climate Change Rules? : TheCorporateCounsel.net Blog

Which brings us to the question that everyone is asking these days – what will the final climate change disclosure rules look like? In trying to answer this question like Zoltar, I am encouraged by the outcome we recently observed with the cybersecurity disclosure rules. In March 2022, the SEC originally proposed cybersecurity disclosure rules that included complex and highly…

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Private Equity, Hedge Funds Brace for Coming SEC Overhaul – WSJ

The SEC’s proposed overhaul would require private funds to provide investors with quarterly statements and annual audits, increase their liability for mismanagement or negligence, and prohibit them from giving some investors more-favorable terms than others. In the 18 months since the SEC floated those ideas, private funds and their trade associations have fought to stymie the agency’s plans. Source: Private…

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A Proposed SEC Rule is Roiling the VC World – Bloomberg

A potential new rule from the US Securities and Exchange Commission is unsettling the venture capital class. The change would make it easier to sue investors for negligence, and could make VCs more culpable for failures at the startups they back. The rule, designed to address “lack of transparency, conflicts of interest” and other problems in the private markets, could be particularly impactful in a…

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Approved Amendments to SEC Rules Include Depositions in APs | Compliance Week

This week, the SEC announced that it had approved several amendments to its rules of practice regarding administrative proceedings. Most notably, the new rules provide parties to APs — for the first time — with the opportunity to conduct a limited number of depositions. The SEC also made several other minor tweaks to rules governing the timelines of administrative proceedings, the admissibility of…

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