SEC Flags Private Equity Firms for Increased Enforcement

February 13, 2013 at 10:08 pm Leave a comment

Summary: In a recent talk at the Private Equity International Conference in New York, the Chief of the SEC Enforcement Division’s Asset Management Unit, Bruce Karpati, indicated that the SEC will likely increase enforcement actions against private equity firms and offered steps that private equity firms can take to reduce the risk of SEC action.

Background: In the wake of Dodd-Frank, the SEC created the Asset Management Unit of its Enforcement Division to, among other things, monitor applicable compliance by private equity funds and managers. Through Mr. Karpati, the SEC has now informally indicated that the private equity industry has been flagged for an increase in enforcement actions, and is offering informal tips on the kind of activity it will pursue and the steps that private equity managers and funds can take to avoid scrutiny and mitigate compliance issues.

Read the full pdf alert, SEC Flags Private Equity Firms for Increased Enforcement, including steps for avoiding SEC scrutiny, conduct disfavored by the SEC, and  past enforcement actions.

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