Yesterday, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit vacated the “Private Funds Rules,” which the Securities and Exchange Commission (the “SEC”) adopted on August 23, 2023. The opinion of the...more
On September 5, 2023, almost one year since its first flurry of similar Custody Rule actions, the SEC announced settlements with five SEC-registered investment advisers to private funds with respect to alleged violations of...more
9/26/2023
/ Audits ,
Compliance ,
Custody Rule ,
Enforcement Actions ,
Financial Statements ,
Form ADV ,
Fund Sponsors ,
GAAP ,
Private Investment Funds ,
Securities and Exchange Commission (SEC) ,
Securities Violations
The SEC (U.S. Securities and Exchange Commission) has provided notice that it is preparing to adopt the so-called “Private Funds Rules” under the Investment Advisers Act of 1940 (the “Advisers Act”) on August 23, 2023....more
8/17/2023
/ Audits ,
Clawbacks ,
Custody Rule ,
Disclosure Requirements ,
Investment Advisers Act of 1940 ,
Investment Funds ,
Investment Management ,
Negligence ,
New Rules ,
Private Investment Funds ,
Securities and Exchange Commission (SEC)
On February 7, 2023, the Division of Examinations (“EXAMS”) of the Securities and Exchange Commission (“SEC”) issued its examination priorities for 2023 reflecting a continued focus on SEC-registered private fund sponsors....more
2/9/2023
/ Business Development Companies ,
Compliance ,
Conflicts of Interest ,
Cryptoassets ,
Custody Rule ,
Cybersecurity ,
Fiduciary Duty ,
Fund Sponsors ,
Private Investment Funds ,
SEC Examination Priorities ,
Special Purpose Acquisition Companies (SPACs) ,
Valuation