Our Private Equity Group provides trusted counsel derived from deep industry knowledge to established as well as up-and-coming private equity firms. We represent firms of every size across the spectrum of investment strategies, and we build long-standing relationships with our clients. As active participants in the private equity industry, we are able to advise our clients on the latest innovations, as well as current market practices and trends.
Regulation of Private Fund Advisers Imminent
June 17, 2009
On June 17, 2009, the U.S. Department of the Treasury released President Barack Obama's plan to overhaul the U.S. financial regulatory system entitled "Financial Regulatory Reform - A New Foundation: Rebuilding Financial Supervision and Regulation" (the "Plan"). Among other things, the Plan proposes (i) the registration of private fund advisers whose assets under management exceed "some modest threshold," (ii) required disclosures by private funds advised by an SEC-registered adviser and (iii) strict regulation of private funds that may pose a threat to financial stability. The announcement of the Plan comes just one day after Senator Jack Reed introduced the Private Fund Transparency Act of 2009, which also calls for the registration of certain private fund advisers.