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The WSJ Pro Private Equity Quotes Asset Management Partner Jason Brown on The SEC’s Proposed Advertising Rules

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

Over the past several months, the SEC has proposed rules that could ease some of the regulatory challenges for the private equity industry, reports The Wall Street Journal Pro Private Equity in a March 12 column titled “Cumming’s Take: SEC Proposals Could Relieve Some Private-Equity Headaches.” The piece highlight that the most important, and most complex, is a proposal the agency released in November to overhaul rules for investment-adviser advertising, quoting asset management partner Jason Brown. On balance, these proposals would be helpful for private-equity firms, but could also add a few complications, said Jason, noting he advises private-equity fund sponsors and other investment firms. 

The proposal would ease compliance with certain restrictions on what can be communicated to investors, he said. For instance, it relaxes rules on advertising past performance and using case-studies for marketing, Jason said, adding that The SEC could release a final version of the rule later this year.

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