BNA INSIGHTS: Information Technology and the Investment Adviser of Private Funds: 2011 and Beyond: Bracing for the Onslaught

The year 2011 will dramatically transform the way that investment advisers of private funds do business. This is especially true about how these investment advisers implement their information technology (IT) infrastructure and handle electronically stored information (ESI)…

SEC Weighing Enforcement Priorities for Private Equity Fund Advisers Ahead of Final Registration Requirements

The Securities and Exchange Commission, which only days earlier proposed registration requirements for private equity fund advisers, is already seeking to identify the priorities that should shape its…

SEC Proposes Rules to Bring Transparency to Major Private Investment Fund Advisers

The Securities and Exchange Commission Nov. 19 voted 4 to 1 to propose rules that would implement the Dodd-Frank Wall Street Reform and Consumer Protection Act’s mandate for hedge and private equity fund advisers with at…

Private Equity Funds Accuse French Bank Unit of Fraudulently Selling Over $70 Million of Subprime Securities

A group of private equity funds Oct. 22 alleged in the New York Supreme Court that Credit Agricole Securities (USA) Inc. and its French fraudulently induced their purchase of more than $70.5 million of subprime…

Delaware Supreme Court Okays Use of Net Operating Loss ‘Poison Pill’; Selectica’s Low Trigger Was Appropriate

The Delaware Chancery Court Sept. 23 dismissed a suit by three individuals seeking to withdraw their investments in a private…

BNA INSIGHTS: SEC Overhauls Registration Form for Investment Advisers … And Misses an Opportunity

The Dodd-Frank Act was on the minds of the five Commissioners of the U.S. Securities and Exchange Commission as they voted in July to overhaul Form ADV, the application and…

SEC Scrutinizing Due Diligence Processes at Advisers of Alternative Investment Funds

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations is reviewing compliance and supervisory practices at investment advisers of private pools of…

Court Says Private Equity Firm’s Unit May Proceed with Malpractice Claims Against Law Firm

The Supreme Court of New York July 28 gave an affiliate of Cerberus Capital Management L.P.—a leading private equity firm—the green light to pursue claims that Paul Hastings…

House-Senate Financial Reform Conferees Agree on Hedge Fund Adviser Registration, Rating Agency Provisions

Conferees June 15-17 made some progress on the broad financial reform legislation, agreeing to provisions that would impact hedge…

Sweeping Senate-Passed Reform Bill Would Boost Oversight of Hedge Funds, Credit Rating Agencies

After nearly three weeks of debate on the floor, the Senate May 20 passed, by a vote of 59 to 39, an historic bill that would achieve the most expansive overhaul of securities regulation since…