On June 25, 2025, the SEC’s Office of the Investor Advocate (OIAD) released its annual report to Congress on its policy priorities for fiscal year 2026. The office was established by Congress to focus on retail investor...more
6/27/2025
/ 401k ,
Department of Labor (DOL) ,
Investment Funds ,
Investors ,
Private Equity ,
Regulatory Agenda ,
Regulatory Reform ,
Retirement Plan ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In addition to the normal operational and legal risks associated with owning and managing portfolio companies, 2025 has introduced or exacerbated a wave of geopolitical and macroeconomic risks such as inflation, tariffs,...more
Times of economic volatility often increase disparities between a seller’s valuation and the buyer’s valuation of the same company. Earn-out provisions are one tool frequently used to address such disparities. An earn-out...more
6/18/2025
/ Acquisitions ,
Contract Disputes ,
Contract Terms ,
Dispute Resolution ,
Earn-Outs ,
EBITDA ,
Litigation Strategies ,
Mergers ,
Private Equity ,
Risk Management ,
Valuation
Private credit has become an essential source of financing globally, with fund sponsors enjoying strong demand from borrowers, market participants, and investors. However, as the industry’s “golden age” continues, regulatory...more
Confession: writing this in May 2025, we cannot predict with confidence what the rest of 2025 will bring. The year has already seen four months of change and upheaval – political, regulatory, and economic. The new US...more
5/1/2025
/ Compliance ,
Department of Justice (DOJ) ,
Enforcement ,
Environmental Social & Governance (ESG) ,
Foreign Corrupt Practices Act (FCPA) ,
Investment Funds ,
Portfolio Companies ,
Private Equity ,
Private Funds ,
Regulatory Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In recent remarks at the Florida Bar's 41st Annual Federal Securities Institute and M&A Conference on February 24, 2025, SEC Acting Chair Mark Uyeda outlined his agenda for what he called a "return to normalcy" at the SEC. If...more
3/3/2025
/ Accredited Investors ,
Capital Markets ,
Disclosure Requirements ,
Investment ,
Investment Funds ,
Investors ,
Private Equity ,
Private Funds ,
Regulatory Agenda ,
Retail Investors ,
Securities and Exchange Commission (SEC)
Economic headwinds and the interest rate environment that developed over the course of 2023 increased financial stress on portfolio companies and portend heightened litigation risk in 2024 for portfolio companies and their...more
In a wave of SEC rulemaking this past year, representing a “new world order” event akin to Dodd-Frank, the SEC has provided itself with a fresh set of tools to increase regulatory and enforcement scrutiny on private funds....more
3/26/2024
/ Conflicts of Interest ,
Corporate Counsel ,
Cybersecurity ,
Enforcement ,
Environmental Social & Governance (ESG) ,
New Amendments ,
New Rules ,
Portfolio Companies ,
Private Equity ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
To understand the litigation and regulatory risks that are coming in 2024 for private capital, it is helpful to look back briefly on recent events. Arguably, the single most important event over the last 18 months was the...more
3/19/2024
/ Acquisitions ,
Asset Management ,
Cryptocurrency ,
Cybersecurity ,
Dispute Resolution ,
Enforcement Actions ,
Fund Managers ,
Hedge Funds ,
Interest Rates ,
Investment Management ,
Investors ,
Mergers ,
Private Equity ,
Private Funds ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Technology Sector
Implications of SEC attempt to curb indemnification for private fund managers -
The SEC spent 2022 making multiple and sweeping proposals to amend rules under the Advisers Act, many of which have the ability to...more
As our other Top Ten posts have demonstrated, there is no shortage of risks for private fund sponsors to navigate in today’s economic and regulatory environment. Nevertheless, they need to prioritize the risk that hits...more
6/2/2022
/ Asset Management ,
Breach of Duty ,
Business Litigation ,
Commercial Litigation ,
Fiduciary Duty ,
Fraud ,
Fund Sponsors ,
Investment ,
Investment Funds ,
Investment Portfolios ,
Private Equity