Regulation

Penalties top $5bn, Grewal seeks 'three Es.'

‘We are now in a world where banks lend, but nearly all the risk is transferred to investors,’ Democrat Crenshaw says.

As Washington pressures the industry, advice-of-counsel is becoming 'fertile ground' for litigation.

The IAA suggests the SEC use the number of employees as the appropriate standard for determining the impact of its regulations on small advisers.

Opinions vary, and the real-world impacts of the rules are uncertain – lawyers are up in arms, while GPs are worried and dreaming of money flowing out of firms like a homeowner with a plumbing issue. 

In the wake of the most sweeping regulations since the financial crisis, Gensler was grilled this week by members of the Senate’s Banking, Housing and Urban Development committee about the new private fund rules.

The SEC cannot mandate standalone compliance departments, but the burdens of new rules may make it inevitable.

A footnote in the US Securities and Exchange Commission's new rules suggests continuation funds structured as cross fund trades won't be subject to third-party fairness opinion and valuation letters.

Regulators overstepped, six trade groups claim in new complaint filed in Fifth Circuit.