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FundFire Features Insights from Asset Management Partner Jason Brown on SEC Focus on Disclosure Issues

Practices: Asset Management, Private Funds, Private Equity, Sponsor Representation, Regulatory Compliance for Private Funds

SEC compliance examiners are reviewing business practices of private fund managers to find examples where they are not following through on disclosures made to investors, reported FundFire in a Jan. 15 article titled “SEC Exams Dig Deep to Catch Private Equity Manager Lapses.” Insights from asset management partner Jason Brown are included in the piece.

“Examiners will pore over existing disclosures – such as promises to charge portfolio companies market rate prices when those firms must use the manager’s preferred service providers – to make sure that they’re not only following outlined practices but also verifying those guidelines are still valid,” Jason says. Jason highlights that the shift is a reflection of private fund managers and examiners both getting past the learning curve, years after these firms first had to register as investment advisors in 2012.

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