Complinet logo
Search
Contact us

Private equity advisers warned by SEC official to expect enforcement upswing

Jan 24 2013 Compliance Complete news team

Advisers to private equity funds should prepare for rigorous examinations and even enforcement actions by the Securities and Exchange Commission, Bruce Karpati, chief of the SEC Enforcement Division's Asset Management Unit, said in New York Wednesday. As a result of the industry's growth spurt ahead of the credit crisis, its maturation and the newly registered status of many of its advisers, "it's not unreasonable to think that the number of cases involving private equity will increase," Karpati said in answers to questions at the Private Equity International Conference in New York. The key focus areas of his unit will be conflicts of interest, expenses and fees, managing investments that pay different fees and incentives under the same roof, and otherwise ensuring that the firm meets its fiduciary obligations to investors Karpati said. His remarks as provided by the SEC are printed in full below:One of the best, easiest and most underutilized ways to ensure that your firm and its

Already have an account?

Log in

Want to read this article?

Click here for a free 14 day trial