News & Analysis as of

Private Equity Conflicts of Interest Investment Adviser

SEC Compliance Consultants, Inc. (SEC³)

Latest SEC Document Request Lists: What Private Fund Managers Should be Worrying About

Many private fund managers are breathing a sigh of relief after the Fifth Circuit struck down the Private Fund Rules (check out our blog post for more information). Do not, however, assume the SEC will stop its aggressive...more

Seward & Kissel LLP

SEC Division of Examinations Announces 2023 Priorities

Seward & Kissel LLP on

On February 7, 2023, the SEC’s Division of Examinations (the “Division”) announced its 2023 examination priorities (“Examination Priorities”). The Division indicated that 2023 examinations will prioritize several significant...more

Akerman LLP

SEC Issues a Warning to Private Equity Fund Managers

Akerman LLP on

On June 23, 2020, the Office of Compliance Inspections and Examination (OCIE) of the Securities and Exchange Commission (SEC) published a risk alert (Risk Alert) that highlighted certain compliance deficiencies observed by...more

Proskauer - The Capital Commitment

Who Foots the Bill? SEC Cracks Down on Operating Partner Reimbursement Disclosures

The SEC has been active in the private equity space recently after being relatively quiet for some time. A recent enforcement action serves as a reminder for fund sponsors that regulators are continuing to look at fund...more

Proskauer - The Capital Commitment

Proskauer Launches Private Equity SEC Enforcement Database

Today, we are launching a proprietary database tracking all SEC enforcement actions involving private equity advisers. The database contains key information from the actions, including summaries of key issues, settlement...more

Stinson - Corporate & Securities Law Blog

SEC Proposed Interpretive Guidance for Investment Advisers: Implications for Private Equity

The SEC’s recent proposed guidance for investment advisers has implications for private equity sponsors. Perhaps the most important part of the guidance for private equity sponsors is that related to the duty of loyalty...more

Ballard Spahr LLP

Investment Management Update

Ballard Spahr LLP on

Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more

Stinson - Corporate & Securities Law Blog

SEC Charges Private Equity Advisor with Conflicts for Law Firm Discounts

In a settled enforcement action, the SEC charged a private equity advisor, First Reserve Management, L.P., with conflicts of interest and other matters. First Reserve did not admit or deny the SEC’s findings....more

Ballard Spahr LLP

Investment Management Update

Ballard Spahr LLP on

The Securities and Exchange Commission Adopts Amendments to Form ADV and Investment Adviser Act Rules - The Securities and Exchange Commission (SEC) adopted amendments to Form ADV and Investment Advisers Act of 1940...more

Butler Snow LLP

SEC Settles Charges with Private Equity Firm and Four Executives for Failure to Disclose Conflicts of Interest

Butler Snow LLP on

The SEC recently reached a settlement with New York-based private equity firm, Fenway Partners, LLC, and four executives related to charges that Fenway Partners and several of its executives (“Respondents”) failed to disclose...more

Stinson - Corporate & Securities Law Blog

Portfolio Monitoring and Legal Fees Subject to SEC Enforcement Action Against Private Equity Group

The SEC announced that three private equity fund advisers within The Blackstone Group have agreed to pay nearly $39 million to settle charges that they failed to fully inform investors about benefits that the advisers...more

Stinson - Corporate & Securities Law Blog

Hedge Funds And Private Equity Groups On SEC Examination Priority List

The Office of Compliance Inspections and Examinations, or OCIE, administers the SEC’s nationwide examination and inspection program. The National Examination Program, or NEP, has published its examination priorities to...more

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