The private equity industry should carefully consider the implications of a recent Securities and Exchange Commission ("SEC") enforcement action. In it, the SEC, for the first time, sanctioned an SEC-registered private equity...more
7/12/2016
/ Enforcement Actions ,
Investment Advisers Act of 1940 ,
Leveraged Buyout ,
Neither Admit Nor Deny Settlements ,
Offsets ,
Penalties ,
Pooled Investment Vehicles ,
Portfolio Companies ,
Private Equity Firms ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Transaction Fees ,
Unregistered Brokers
Earlier this month, the Securities and Exchange Commission announced enforcement charges against 28 officers, directors and significant shareholders, including hedge funds and large financial institutions, for failing to...more
Prior to the passage of the Dodd-Frank Act, a private equity manager was exempt from federal regulation under the Investment Advisers Act of 1940 (the “Advisers Act”) so long as it managed fewer than 15 private equity funds....more