OCIE Speaks On Private Equity Deficiencies


Marc Wyatt, Acting Director, Office of Compliance Inspections and Examinations, of the SEC, recently gave his views on serious deficiencies found in examinations of private equity advisors at a conference attended by private equity officials. Mr. Wyatt highlighted the following: By far the most common deficiency noted in examinations relate... Read More

Topics: Private Equity

SEC Identifies Enforcement Priorities for Hedge Funds and Private Equity Funds


Julie M. Riewe, Co-Chief, Asset Management Unit, SEC Division of Enforcement identified enforcement priorities for hedge funds and private equity funds. For private funds — meaning hedge funds and private equity funds — the AMU’s 2015 priorities include conflicts of interest, valuation, and compliance and controls. On the horizon, on... Read More

Topics: Investment Advisers, Private Equity

Model Rule Exempting M&A Brokers Proposed by NASAA


The Broker-Dealer section of the North American Securities Administrators Association (NASAA) has proposed a model uniform state rule (the “Model Rule”) that would exempt parties that act only as deal brokers in M&A transactions from regulation under applicable state broker-dealer laws. Last January, the SEC released a no-action letter (the “SEC... Read More

Topics: Broker-Dealer, Private Equity

Fed Issues Volcker Rule FAQs


The Federal Reserve Board has issued FAQs on the Volcker Rule set forth in Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  The FAQs mirror other FAQs issued by Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission,... Read More

Topics: Banking, Private Equity