Congress wrapped up its busy pre-recess schedule focused on a supplemental appropriations bill to help fund costs associated with the inflow of people across the southwest border. This update includes:
- ACG's June Public Policy Newsletter, which includes several policy-related articles;
- The Private Equity Growth Capital Council's private equity performance update for Q4 2013;
- Senate Banking Committee's hearing on the recent GAO study on whether large banks enjoy a "Too Big To Fail" advantage; and
- The recent Senate Permanent Subcommittee on Investigations hearing on the use of structured financial products to evade U.S. short-term capital gains tax.
This will be my last update until September. Have a great summer, and as always, please let me know if you have any suggestions or comments.
Note: The head of the SEC's Office of Compliance Inspections and Examinations recently gave a speech (described below) warning private equity managers about several areas where PE funds are failing to meet their obligations under the Investment Advisers Act. A key problem area is the issue of fees and expenses charged by the general partner.
Private Fund Update - August 4, 2014
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