Securities and Exchange Commission (SEC), Fund Managers, Valuation

New Tariffs, Old Issues: Post-Liberation Day Advisers Act Considerations for Private Fund Managers

Proskauer Rose LLP on 4/11/2025

Markets remain exceptionally volatile following the announcement of the U.S. “Liberation Day” tariffs and retaliatory measures from other countries. While the ultimate path of policy remains uncertain, recent developments are...more

Valuation in Times of Market Disruption

Proskauer - The Capital Commitment on 4/7/2021

Valuation practices will continue to be the subject of disputes. Particularly in times of economic disruption and market volatility, buyers and sellers are more likely to have substantial differences of opinions on valuation,...more

Scrutiny Increasing On Energy Private Equity Valuation

Opportune LLP on 10/8/2020

The valuation of private equity investments has recently garnered greater marketplace attention, and the SEC is updating its guidance on these valuations for the first time in 50 years. Managing Director Paul Legoudes and...more

Valuation of Illiquid Portfolio Investments – Avoiding Regulatory Risks with Form and Substance

Proskauer - The Capital Commitment on 6/21/2017

For private fund managers, the valuation of privately-held securities has been subject to heightened regulatory scrutiny. As the IPO on-ramp for private “unicorn” investments has lengthened, fund managers may hold illiquid...more

Reported Criminal Probes Regarding Bond Valuations Highlight the Importance of Valuation Procedures

Proskauer - The Capital Commitment on 6/1/2017

According to recent news reports, the DOJ and the SEC are investigating the possible improper use of third-party broker quotes by hedge fund managers to value illiquid debt securities in their portfolios. Prosecutors are...more

Private Equity: The Next Wave of SEC Enforcement Actions?

Carlton Fields on 7/11/2014

Ever since the Dodd-Frank Wall Street Reform and Consumer Protection Act required many investment advisers to private equity funds to register with the SEC for the first time, fund managers knew that additional scrutiny might...more

Lessons Learned From The Morgan Keegan Case, Part I – Valuation

Troutman Pepper on 7/25/2013

The U.S. Securities and Exchange Commission (SEC)’s recent settlement in the latest chapter of the enforcement proceeding involving Morgan Keegan provides important guideposts on two of the hottest regulatory topics in the...more

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