Regulatory Priorities

Last week, the Securities and Exchange Commission (SEC) Asset Management Advisory Committee held a Private Investments Subcommittee meeting examining the private equity industry to determine whether…

The AIC is the voice for private equity in the United States, but we also work to ensure U.S. private equity firms and the funds they manage receive fair treatment in other countries. We agree with…

The enactment of tax reform legislation in late 2017 began a second phase of tax reform in the regulatory space. The private equity industry, working through the AIC, will be working over the coming…

The AIC urges the SEC to simplify the verification of investor status and provide further assurances on what constitutes “general solicitation” to allow for normal business reporting without…

The AIC urges the SEC to modernize the Advertising Rule to better meet the demands of the 21st century. The SEC’s Advertising Rule (Rule 206(4)-1), which has not been amended since its adoption…

The AIC urges the SEC to update the Custody Rule to remove unnecessary burdens. The SEC’s Custody Rule (Rule 206(4)-2) imposes many unnecessary burdens on private fund sponsors with respect to the…

The AIC urges the SEC to clarify the applicability of its auditor independence rules in the private equity context to reduce the detrimental effects on capital formation caused by the current…

Investment Advisers are Not Broker-Dealers: The AIC urges the SEC to confirm that broker-dealer regulations do not apply to private equity investment advisers merely because they may receive fees in…

WASHINGTON – A bipartisan group of legislators introduced the Investment Advisers Modernization Act of 2016. Cosponsored by House Financial Services Committee members Robert Hurt (R-VA), Juan…

By: Lindsey L. Wiersma, Counsel at Paul, Weiss, Rifkind, Wharton & Garrison LLP Andrew Ceresney, Director of the SEC’s Division of Enforcement, recently spoke at the Securities Enforcement…

The AIC urges the SEC to reform Form PF to reflect the fact that private equity investment advisers, funds and their portfolio companies pose no systemic risk. This will reduce unnecessary…

By: Steve Judge   The first quarter of 2015 saw an increase in partisanship and a focus on international issues, which made substantive legislation more difficult to achieve. We continue to…

By: John Sikora Jr., Partner, Latham & Watkins, LLP    What Is a Private Equity Fund Manager to Make of the SEC’s Year in Enforcement? In reviewing the results of SEC Enforcement’s fiscal…

The Council held its first seminar in a new educational series on environmental, social, and corporate governance (ESG) programs on May 22nd at Paul, Weiss, Rifkind, Wharton & Garrison LLP in New…