SEC Tees Up Private Equity Enforcement Issues

Law360, New York (April 30, 2013, 6:04 PM EDT) -- Recent remarks by Bruce Karpati, chief of the Asset Management Unit of the U.S. Securities and Exchange Commission, at the Private Equity International Conference on Jan. 23, 2013, in New York, as well as recent enforcement cases by the SEC, demonstrate an increased focus on the private equity sector. In particular, they denote a focus on aggressive fundraising disclosures, transparency, asset valuations, conflicts of interest, misappropriation of fund opportunities and “zombie funds.”

The SEC’s Division of Enforcement is organized into five specialized units: the Asset Management...
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