There are indications from Washington that hedge funds,
long exempt from anti-money laundering reporting rules, may soon be
brought into the fold under new rules proposed by the Treasury
Department's Financial Crimes Enforcement Network (FinCEN...
Weisbach Professor and Ralph W. Kurtz Chair in Finance at The Ohio State
University, and his colleagues, Ji-Woong Chung, Berk A. Sensoy and Léa H.
Stern, are looking at the effect of the pay for performance at private equity
The recent decision in Britt v. Twin City Fire Insurance Co. , C.A. No. 8SACV 12-1355-JST (JPRx), slip op. (C.D. Cal. June 26, 2013), highlights some important insurance considerations for private equity funds and the individuals they place...
Identity theft is a serious problem. Title X of the
Dodd-Frank Wall Street Reform and Consumer Protection Act increased the scope
of firms that would be subject to federal regulatory requirements on identity
theft rules. The Securities Exchange Commission...
In addition to filing Form ADV with the SEC when they
register with the Securities and Exchange Commission, private fund managers
will also need to start filing Form PF next year.
The amount of information required by Form PF is tiered.
Business Capital Access and Job Preservation Act , H.R. 1082, took another
step forward this week when it was approved by the House Committee on Financial
Services. It still has a long way to go before coming law so this is no time to
The impact of the October 1 shutdown of the federal government on hedge funds is now playing out in slow motion. While the SEC remains open due to its ability to self-fund for a few weeks, its sister agency, the CFTC has shut down. These are the agencies...
The SEC has been poking around valuations for a while.
First it was from the chaos of the 2008 financial crisis. The sudden
illiquidity and drop in prices left many scratching their heads about the
proper valuations for their assets.
That was the...
The San Francisco Office of the SEC has an informal
inquiry into the valuations of private equity funds. IA Watch has received a
copy of the sweep letter from the Division of Enforcement directed to a private
equity fund manager.
From my discussions, many real estate fund managers are
still not sure if they are subject to registration under the Investment
Advisers Act. The definition of "private fund" can exclude many real estate
funds depending on the structure of...
Bruce Karpati, the Chief of the SEC Enforcement
Division's Asset Management Unit, held a Q&A session entitled " Private
Equity Enforcement Concerns " at the Private Equity International Conference
held in New York on January 23, 2013...
The Managed Funds Association recently submitted a comment letter to the Securities and Exchange Commission
dated January 6, 2012 requesting the SEC to amend Rule 502(c) of Regulation D
to exempt private funds, such as hedge funds, private equity funds...
Yesterday, Bruce Carton of Securities Docket hosted a
SEC's Asset Management Unit and Strategies for Avoiding Trouble in 2011 and
Beyond . He managed to get Bruce Karpati, the co-head of the SEC's Asset
Management unit, to participate...
Trading ahead of client accounts. Insider trading. Breach of fiduciary duty.
These were just some of the concerns that the SEC had when it adopted the requirement for investment advisers to establish policies to monitor employee personal trading in...
An EIA which summarizes the new
Form PF adopted on October 21, 2011 by the Securities and Exchange Commission.
This form is used to collect information from private fund advisers, primarily
to assist the Financial Stability Oversight Council ("FSOC"...