Private Investment Funds Partner Discusses Scrutiny of PE Firms in SEC’s New Presence Exams

In The News
November 21, 2014

A Fund Fire article, published Nov. 19, explores the SEC’s increased scrutiny of private equity firms in regulatory exams and quotes a speech given by private investment funds partner Jason E. Brown at the Financial Research Associates conference. In his speech, Mr. Brown notes that recent SEC exams, those following a May 2014 speech by Andrew Bowden, director of the SEC’s Office of Compliance Inspections and Examinations, “are very distinguishable from the ‘presence exams’ of the past couple of years.” Specifically, Mr. Brown says, recent SEC exams are characterized by their slower pace, a longer review period and the requirement for more preparation on the part of both PE firms and SEC examiners.