Find out what you need to know about the new Private Fund Reform Rules, what it may mean for you, and how you can begin to prepare.
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On August 23, 2023, a divided SEC voted to adopt enhanced regulations of private fund advisers and to update the Compliance Rule for all investment advisers. The new rules include several new requirements including providing quarterly statements to fund investors; completing annual audit requirements for each private fund; and a requirement for adviser-led secondary transactions to obtain a fairness opinion or valuation opinion in connection with the transaction.
The resources below include detailed information and guidance on various aspects of the new Private Fund Reform rules. Check back often; our team of regulatory experts is constantly producing new information and guidance that may be helpful as you navigate what the new reforms may mean for you and your firm.
During this webinar, SEC and regulatory experts Amber Allen, Fairview EVP and General Counsel, and Genna Garver, Troutman Pepper Partner, discuss legal and compliance considerations of the new Private Fund Rules.
An overview of the new Private Fund Adviser Reforms, including details on specific rules such as the Quarterly Statement Rule, the Private Fund Audit Rule, the Adviser-Led Secondaries Rule, the Preferential Treatment Rule, and more.
This chart maps out each rule’s corresponding compliance dates, grandfathering provisions, and to whom it applies.
An overview of the lawsuit filed in the Fifth Circuit Court of Appeals suing the SEC to block new private fund reforms.
An overview of requirements that attach for any manager of a private fund