Law360, New York (June 1, 2015, 10:15 AM EDT) -- As a follow-up to last year's "Spreading Sunshine in Private Equity" speech, in which then-Office of Compliance Inspections and Examinations Director Andrew Bowden stated that the U.S. Securities and Exchange Commission had found that more than half of the funds examined by the OCIE had allocated expenses and collected fees inappropriately and identified "lack of transparency" as a pervasive issue in the private equity industry, Marc Wyatt delivered a speech on May 13, 2015, reflecting on progress in the past year as well as identifying likely areas of scrutiny the private equity industry will face in the future. Although the speech has been widely reported, we wanted to highlight particular areas of interest. In this article, we examine the key takeaways from the speech, and outline best practices for the private equity industry going forward....
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