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Private Equity Funds Disclosure Requirements

Ropes & Gray LLP

[Podcast] Fully Invested: Exchange Act Registered Private Funds (’34 Act)

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On this episode of Fully Invested, Ropes & Gray asset management partner Jessica Marlin and capital markets counsel Marc Rotter discuss ’34 Act Registered Private Funds. These funds register under the Securities Exchange Act...more

King & Spalding

New Marketing Rule FAQs Facilitate Compliance on Net Performance

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On March 19, 2025, the SEC Staff published two Marketing Rule FAQs that address some of the more challenging aspects of the Marketing Rule requirement to present net performance information. Specifically, the FAQs provide a...more

BCLP

New SEC Staff Guidance on Verification of Investor Accreditation in Private Placements Involving General Solicitation

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On March 12, 2025, the SEC staff confirmed in a no-action letter that issuers may rely on high minimum investment levels, as well as investor self-certification of accredited status, in private offerings involving general...more

Akin Gump Strauss Hauer & Feld LLP

SEC Staff Provides Guidance on Private Offerings to Accredited Investors That Permit General Solicitation and Other Exemptions

On March 12, 2025, the U.S. Securities and Exchange Commission (SEC)’s Division of Corporation Finance (SEC Staff) published new and revised Compliance and Disclosure Interpretations (C&DIs) regarding private offering...more

Bressler, Amery & Ross, P.C.

SEC Staff Provides Additional Guidance on Verification Requirement for 506(c) Offerings

On March 12, 2025, the SEC’s Division of Corporation Finance issued guidance affirming that issuers in a 506(c) offering could reasonably be considered to have properly "verified" an investor's accredited status based simply...more

DarrowEverett LLP

Private Placements in Florida Just Got Easier: Here’s How

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Florida recently implemented amendments to its Securities and Investor Protection Act (“Chapter 517”), bringing significant changes to the regulatory framework governing private placements, investment advisors, and exemptions...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

Cooley LLP

Annual SEC Section 13 Filing Requirements for Venture, Private Equity Funds (Updated)

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Venture and private equity funds and other investors that own equity securities of public companies may have numerous Securities and Exchange Commission (SEC) filing requirements – including filings based on the size of the...more

Hogan Lovells

FCA consults on arrangements for PISCES sandbox

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On 17 December 2024, the UK Financial Conduct Authority (the “FCA”) published its latest consultation paper on the ‘Private Intermittent Securities and Capital Exchange System’ (“PISCES”) (the “Paper”) (which is available...more

SEC Compliance Consultants, Inc. (SEC³)

Top Tips for Updating Your 2024 Compliance Program

Every year compliance officers face the unenviable job of performing their compliance program's annual review under Advisers Act Rule 206(4)-7). An essential element of that review is updating the firm's compliance policies...more

DarrowEverett LLP

How SEC’s Private Fund Rules Will Affect Use of Side Letters

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Recent client alerts have provided an overview of the new “private fund rules” adopted in late August by the U.S. Securities and Exchange Commission (SEC). These rules apply, subject to limited exceptions and carveouts, to...more

McDermott Will & Emery

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

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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

Bradley Arant Boult Cummings LLP

Considering A Private Company New Year Investment? Pay Close Attention to Risks Posed by Potential Red Flags

The public markets were down last year, and private company values also took a hit. So, is now a good time for a new investment in a private company? The best answer is it depends. There is never a bad time to invest in a...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Adopts Broad Amendments to Rule 10b5-1 Protections and Section 16(a) Reporting

Affected individuals should review their 10b5-1 plans and Section 16(a) Reporting practices to ensure they comply with the new regulations. Directors, officers and other persons (other than issuers) cannot maintain more...more

Proskauer Rose LLP

FCA consults on new UK Sustainability Disclosure Requirements

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On 25 October 2022, the United Kingdom’s Financial Conduct Authority (“FCA”) published a consultation paper (CP22/20) on Sustainability Disclosure Requirements (“SDR”) and investment labels (the “Consultation”). The...more

Seward & Kissel LLP

Private Equity Side Letters Post-ILPA 3.0

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In June 2019, the Institutional Limited Partners Association (“ILPA”) released the third edition of its private equity industry best practices principles fostering transparency, governance and alignment of interests for...more

Latham & Watkins LLP

PE Firms Poised for Diversity Drive

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Sponsors and dealmakers can satisfy investor demand for greater diversity and leverage opportunities for fund innovation. Diversity has become a key focus for every industry in recent years, and private equity, like many...more

Goodwin

Newly Appointed Federal Watchdogs Warn they are Focused on Private Funds

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Private funds can draw lessons about how to prioritize their compliance efforts and practices in response to a series of warnings by newly-appointed federal regulators of increased scrutiny, regulation, and enforcement...more

WilmerHale

SEC Proposes Significant Amendments to Form PF and One-Business-Day Reporting Requirements

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On January 26, 2022, the Securities and Exchange Commission (SEC) proposed amendments to private fund reporting rules that would increase the information required to be reported to the SEC on Form PF and the frequency of...more

Alston & Bird

SEC Proposed Rule Will Require Private Funds to Report Certain Cyber Events

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On January 26, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new rules to enhance hedge fund and private fund disclosure requirements and increase regulators’ visibility into the private funds industry....more

Latham & Watkins LLP

ESG Toolkit Expands for European PE

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Green shoots emerge as PE firms consider new ways to incorporate ESG into dealmaking. Market sentiment and the increasing importance of environmental, social, and governance (ESG) to firms’ competitiveness across the...more

McDermott Will & Emery

DOL: Path for 401(k) Plans to Offer Private Equity Investment Options

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The US Department of Labor (DOL) issued an information letter in June 2020 indicating that, in limited circumstances, it will allow defined contribution retirement plans (such as 401(k) plans) to indirectly invest in private...more

Goodwin

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

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In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Proskauer - The Capital Commitment

SEC Settles with Private Equity Fund Adviser over Alleged Conflicts of Interest

As a sign that the SEC is continuing to actively pursue private equity fund advisers, on April 24, 2018, the SEC announced a settlement with private equity fund adviser WCAS Management Corporation (WCAS) related to...more

Latham & Watkins LLP

Private Equity Fund Managers: Annual Compliance Reminders and New Developments

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Summary of private equity firms’ compliance obligations, discussion of notable developments in 2017, and outlook for 2018. US federal laws and regulations, as well as the rules of self-regulatory organizations (SROs),...more

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