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Disclosure Requirements Investors Private Equity

Goodwin

PISCES 101 - The Private Intermittent Securities and Capital Exchange System: What you need to know about the world’s first...

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What is PISCES?  The Private Intermittent Securities and Capital Exchange System (PISCES) is a UK government–backed initiative designed to enable private companies to offer and trade their existing shares in a controlled,...more

Mayer Brown

Faqs – What US Clients Need to Know About PISCES – a New Secondary Private Stock Market in the UK

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WHAT ARE THE KEY DRIVERS FOR REFORM? The UK Treasury ("HMT") noted the following as drivers for reform: A key challenge for private companies is that, at early stages in their growth, there are no standardised ways...more

Mayer Brown Free Writings + Perspectives

SEC Office of the Investor Advocate Report

Pursuant to the Securities Exchange Act, the Investor Advocate is required to file two reports annually with the Committee on Banking, Housing and Urban Affairs of the Senate and the Committee on Financial Services of the...more

Mayer Brown Free Writings + Perspectives

Reiteration of Existing Principles-Based Guidance and Updated CDIs

On March 12, 2025, the staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) issued an interpretive letter (the “Interpretive Letter”) and...more

Katten Muchin Rosenman LLP

SEC Issues New Guidance on Self-Certification of Accredited Investor Status in Private Placements

On March 12, 2025, the staff of the Division of Corporate Finance (the staff) of the US Securities and Exchange Commission (the SEC) concurrently issued a no-action letter and interpretive guidance via new Compliance and...more

K&L Gates LLP

Trust But Verify (With a Minimum Investment Amount)

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On 12 March 2025, the SEC staff issued a no-action letter for offerings under Rule 506(c) of Regulation D. In the letter, the Staff concurs that an issuer will have taken “reasonable steps to verify” a purchaser’s accredited...more

DLA Piper

SEC Permits Rule 506(c) Accredited Investor Verification with Self-Certification

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The US Securities and Exchange Commission (SEC) has published no-action guidance providing clarity to issuers relying on Rule 506(c) of Regulation D – an exempt offering pathway that permits issuers to publicly advertise an...more

Cozen O'Connor

SEC Staff Releases Updated Guidance on Private Offerings Involving General Solicitation

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On March 12, 2025, the staff of the Securities and Exchange Commission (SEC) issued a series of updates to the Securities Act Rules Compliance and Disclosure Interpretations (C&DIs), primarily affecting exempt offerings under...more

DarrowEverett LLP

Less Red Tape, More Capital? SEC Clarifies 506(c) Verification Rules

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On March 12, 2025, the Securities and Exchange Commission (“SEC”) issued a significant no-action letter clarifying the use of high minimum investment amounts as a method for verifying accredited investor status under Rule...more

Proskauer Rose LLP

SEC Acting Chair Remarks on Private Capital-Raising and Retail Access to Private Companies

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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

Cooley LLP

Acting SEC Chair advocates “cost-effective regulations for every stage of a company’s lifecycle”

Cooley LLP on

Yesterday, Acting SEC Chair Mark Uyeda delivered remarks to the Florida Bar’s 41st Annual Federal Securities Institute and M&A Conference focused on regulatory efforts affecting every stage of a company’s lifecycle. Setting...more

Alston & Bird

ILPA Releases Updated Reporting Template and New Performance Templates

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Our Investment Funds Team reviews new templates from the Institutional Limited Partners Association (ILPA) for the private funds and private equity industries....more

Vicente LLP

Raising Capital for Your Business: Why Companies Should Avoid Non-Accredited Investors

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When raising capital, startups and growing businesses must choose among various terms, structures, filings, and investor types. One decision—whether to include unaccredited investors—should be straightforward. For the reasons...more

Paul Hastings LLP

ILPA Releases New Reporting and Performance Templates

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On January 22, the Institutional Limited Partners Association (ILPA) released an update to its 2016 Reporting Template and unveiled a new Performance Template. Together, the goal of these documents is to enhance and...more

Bass, Berry & Sims PLC

State Legislatures Target Private Equity Investments and Corporate Structures in Health Care with New Bills

Many state legislatures have recently convened for 2025 legislative sessions, and members have already proposed a significant number of bills that, if passed, would materially impact transactions and/or corporate structures...more

Robinson+Cole Health Law Diagnosis

Massachusetts Expands FCA Liability to Owners and Private Equity Investors

Under a new 2025 law, Massachusetts is one of the first in the nation to broaden its state False Claims Act (FCA) to require disclosures by investors and owners of health care entities. On January 8, 2025, Governor Maura...more

Ankura

Addressing Valuation Challenges in the Expanding Private Credit Market

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The rapid expansion of the private credit market has highlighted concerns regarding the accuracy and reliability of valuations within this asset class. Unlike publicly traded companies, which must adhere to stringent...more

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

Latham & Watkins LLP

ESG - US State-Level Developments for Private Capital and Financial Institutions

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Private capital providers, investors, asset managers, and financial institutions will likely continue to face a fragmented regulatory landscape on ESG matters. Various US states have taken and continue to take action on...more

McDermott Will & Schulte

Private Equity and REITs, Take Note! CMS Finalizes Nursing Facility Ownership Disclosure Requirements

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On November 17, 2023, the US Department of Health and Human Services (HHS) published a final rule requiring nursing facilities participating in Medicaid and skilled nursing facilities participating in Medicare to disclose...more

A&O Shearman

Embracing legal tech: A game-changer for IPO success

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This tech-driven approach is not just an option; it's a necessity. Michael Bloch, Partner at A&O, explains, "IPOs are incredibly complex, but we are exploring ways to make them less painful for everyone involved through the...more

McDermott Will & Schulte

[Event] HPE NYC 2023 - October 13th, New York, NY

HPE NYC 2023 is going to be the best yet! Connect with and gain insights from top executives, innovative founders and visionary investors who are leading the charge in healthcare private equity. Expect in-depth plenary...more

Epstein Becker & Green

New York State Enacts New Notice Requirements Targeting Private Equity Health Care Transactions

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New York recently enacted new legislation that will amend Article 45-A of the New York Public Health Law, entitled “Disclosure of Material Transactions”.  Although the legislation, as enacted, contains no description of...more

Ankura

How Cybersecurity Protects Valuation: Considerations for Private Equity in the Deal Lifecycle

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Cybersecurity risk applies to businesses of all sizes and across all industries – it is a risk that cannot be ignored. In particular, cybersecurity risk can no longer be ignored in the deal lifecycle...more

Latham & Watkins LLP

PE on Red Alert for Greenwashing in Light of UK Developments

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PE firms face growing regulatory and litigation risks from greenwashing claims as they navigate a fragmented anti-greenwashing landscape. Amid concerns of exaggerated or misleading sustainability claims, the UK Financial...more

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