Partner Christine Schleppegrell was quoted in a FundFire article that discussed a federal appeals court decision rejecting the US Securities and Exchange Commission’s (SEC’s) new disclosure rules for private fund managers.
Christine expects the SEC to continue pursuing enforcement activities related to the private funds rule. “I think investors and managers will be very happy that the preferential treatment rule is gone. That’s one area where both sides were very concerned about the impact on information sharing and were struggling with implementation. Some were hopeful that there would be a complete vacatur of all of the rules. However, there is one part of the rulemaking package that was already in place: the written annual review requirement. Registered advisers were already complying with that as of November,” said Christine.
Read the full FundFire article >>
Subscription may be required