Bill Myers
Bill Myers is Regulatory Compliance Watch’s editor. He focuses on private equity and hedge funds, based in our Rockville office. He’s been a newsman for two decades in Chicago, Cambodia and Washington DC.
The US regulator's final rules, voted through on Wednesday, still impose rigid disclosures and require fairness or valuation opinions on continuation fund transactions.
GPs will soon have to report on sponsor-initiated secondaries deals within 60 days from the end of each quarter, after the US regulator voted through the proposals Wednesday.
The SEC had proposed last year to enhance transparency in the private fund industry through various means, including via regulatory filing requirements.
Disclosure requirements are 'problematic', the Institutional Limited Partners Association says.
Gary Gensler, head of the US financial regulator, is expected to focus on ESG and market structure reforms.
Earlier efforts to reform carried interest taxation had stalled, before US Senator Joe Manchin announced on Wednesday that he and Senate Majority Leader Chuck Schumer had worked out a deal.
Will a new rulemaking proposal from the SEC slow down the use of blank-cheque companies, which raised a record $162.5bn through 613 IPOs last year?
Proposal uses present tense, not future tense, and the industry is worried.
If brought into law, the proposals would include ban a raft of fees, expenses and business practices in all private funds.
The commission's Asset Management Advisory Committee has issued a series of recommendations that would help open up the market even wider to retail investors.