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'If the rule gets vacated, we are still going to push this project forward,' says ILPA’s Neal Prunier.
Igor Rozenblit
Iron Road Partners’ Igor Rozenblit – former co-head of the SEC's private funds unit – details concerns and red flags the regulator will be looking for following the passing of its private market rules last year.
Among other things, this proposal would mandate that advisers must verify a customer’s or an entity’s identity 'within a reasonable time before or after the customer’s account is opened.'
Securities and Exchange Commission, SEC, Building in Washington DC. The SEC regulates stocks and bonds and related financial activities.
Deal documents bound employees to expansive MNPI rules; division head also pushes co-operation for leniency in personal messaging cases, notes AI usage risks.
Registrants broke through triple digits at the industry organization’s London event, where the mood was optimistic, though the near-term future is filled with uncertainties.
Risk alert identifies shortcomings in advisers' P&Ps which "resulted in gaps for preventing violations of the marketing rule, books and records rule, or both."
Securities and Exchange Commission, SEC, Building in Washington DC. The SEC regulates stocks and bonds and related financial activities.
A recent settlement likely means the SEC is already investigating the private funds sector for compliance breaches related to electronic messaging.
Compliance
Proposed rules from the SEC impose significant new regulatory burdens on registered investment advisers and funds, according to Debevoise & Plimpton partners Charu Chandrasekhar and Kristin Snyder
Regulation, technology and shifting investor demands are changing what GPs require of fund service providers
Shield illustration
Private markets regulation is proliferating at speed and service providers need to keep pace
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