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.
Some highlights in the request:
It seems to be a fairly short list for an SEC document
request. But any SEC document request is intimidating.
The request shouldn't be construed as indication that
there has been a violation of the federal securities law. It's indication that
the SEC is continuing to look for funds and managers that manipulated
additional commentary on developments in compliance and ethics, visit Compliance Building,
a blog hosted by Doug Cornelius.
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