Valuing The Invaluable

Law360, New York (March 6, 2012, 12:48 PM EST) -- “I think that private equity law enforcement today is where hedge fund law enforcement was five or six years ago.” This recent quote by Robert Kaplan, co-chief of the Asset Management Unit of the U.S. Securities and Exchange Commission’s Division of Enforcement, should be a wake up call to the private equity community that the SEC is coming.

The statistics are staggering. Since 2000, the SEC has brought only 12 cases against managers of private equity funds, whereas in 2011 alone, the SEC brought 50 cases...
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