Another source of litigation risk for fund sponsors are claims brought by portfolio company employees. Sponsors should be aware of these risks, particularly when the portfolio company is in distress or is considering a sale...more
Private investment funds and advisers are likely to face new regulatory challenges and increased litigation risks in 2017, not only because of a change in the administration, but also because many advisers have not corrected...more
2/10/2017
/ Acquisition Agreements ,
Advertising ,
Business Development ,
Business Litigation ,
Capital Raising ,
Conflicts of Interest ,
Dodd-Frank ,
Financial Institutions ,
Financial Markets ,
Hedge Funds ,
Industry Examinations ,
Initial Public Offering (IPO) ,
Internal Controls ,
Investment ,
Marketing ,
Merger Agreements ,
OCIE ,
Pay-To-Play ,
Portfolio Companies ,
Private Equity ,
Private Funds ,
Public Offerings ,
Regulatory Oversight ,
Restructuring ,
Securities ,
Securities and Exchange Commission (SEC) ,
Snapchat ,
Unicorns ,
Valuation ,
Venture Capital ,
Whistleblowers
On November 18, 2016, outgoing SEC Chair Mary Jo White delivered a speech at New York University School of Law entitled “A New Model for SEC Enforcement: Producing Bold and Unrelenting Results.” Chair White’s remarks covered...more
11/29/2016
/ Dodd-Frank ,
Enforcement Actions ,
Financial Institutions ,
Private Funds ,
Proposed Legislation ,
Repeal ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Senior Management Regime (SMR) ,
Trump Administration ,
Whistleblower Awards ,
Whistleblowers
The Securities and Exchange Commission today announced its enforcement results for fiscal year 2016, reaching new highs in the number of actions filed and money ordered forfeited through disgorgement and penalties. The SEC...more
10/12/2016
/ Administrative Proceedings ,
Disgorgement ,
Enforcement Actions ,
Financial Institutions ,
Financial Markets ,
Foreign Corrupt Practices Act (FCPA) ,
Investment Adviser ,
Penalties ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
A recent SEC settlement of whistleblower charges should serve as a useful reminder for private fund sponsors to conduct a comprehensive review of their policies and procedures.
On August 10, 2016, the SEC announced that...more
8/15/2016
/ Code of Conduct ,
Defend Trade Secrets Act (DTSA) ,
Dodd-Frank ,
Employee Handbooks ,
Employment Contract ,
Immunity ,
OSHA ,
Policies and Procedures ,
Private Funds ,
Securities and Exchange Commission (SEC) ,
Severance Agreements ,
Whistleblower Awards ,
Whistleblowers
As we have previously observed, private fund advisers face a difficult challenge when SEC guidance (in the form of a speech or a public enforcement order) indicates that certain long-standing practices may be contrary to the...more
6/28/2016
/ Anti-Retaliation Provisions ,
Dodd-Frank ,
Fund Managers ,
Internal Investigations ,
Internal Reporting ,
Investment Adviser ,
Private Funds ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Awards ,
Whistleblowers
Proskauer has released the 2015 Proskauer Annual Review and Outlook for Hedge, Private Equity and Other Private Funds. The 88-page report is a summary of significant legal changes and developments in the private funds space...more
11/25/2015
/ China ,
Cybersecurity ,
EU ,
Gift Tax ,
Hedge Funds ,
Hong Kong ,
Internships ,
Popular ,
Private Equity ,
Private Funds ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
UK ,
Volcker Rule ,
Whistleblowers
On April 1, 2015, the Securities and Exchange Commission (SEC) announced that it had settled its first enforcement action under SEC Rule 21F-17, which prohibits companies from taking actions or using confidentiality...more