Title

Private Equity Regulatory Update - July 2019
Client Newsletter

Created date

7/31/2019

Rules and Regulations

  • SEC Adopts Amendments to the Auditor Independence Rules
  • Davis Polk Publishes Visual Memorandum Related to Regulation Best Interest and Related Interpretations

Industry Update

  • Allison Herren Lee Sworn In as SEC Commissioner
  • SEC Seeks Public Comment on Ways to Harmonize Private Security Offerings
  • OCIE Issues Risk Alert Regarding Compliance Practices for Employees with a History of Disciplinary Events

Litigation

  • SEC Charges Investment Adviser and Principal with Fraud for Misrepresentations to Clients and Misappropriation of Investor Funds; Issues Fines of $1.3 Million
  • Manhattan Jury Finds Fund Founder, Trader Guilty of Fraud and Conspiracy to Inflate Fund Valuation