An Examination of the Private Equity Proposals in the Senate Reform Bill By Kenneth Muller and Seth Chertok


I. Introduction

Several proposals were introduced in 2009 and 2010 that seek to regulate exempt investment advisers and private investment companies more closely. On March 15, 2010, Senator Christopher Dodd (D-CT) introduced a proposed omnibus financial regulation package entitled ‘‘The Restoring American Financial Stability Act of 2010’’ as amended by certain amendments thereto (‘‘Senate Bill’’), which contains several portions that are relevant to private equity. The Senate Bill is similar in several respects to the proposed ‘‘The Wall Street Reform and Consumer Protection Act of 2009’’ introduced by Representative Barney Frank (DMA) and passed by the House of Representatives on December 11, 2009 (‘‘House Bill’’). The Senate Bill was recently passed by the Senate on May 20, 2010.

This article primarily discusses the provisions of the House Bill and the Senate Bill that are relevant to advisers’ registration and related matters. This article also discusses the proposed provisions of the Senate Bill that would impact the relationship between banks and private equity funds.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.