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The U.S. Securities and Exchange Commission recently settled an enforcement action against a U.S. private equity firm for violations that included acting as an unregistered broker in connection with sourcing, structuring and negotiating the acquisition and disposition of portfolio companies and charging transaction fees for those services.

Should the British public vote in favour of leaving the European Union, uncertainty about the impact of Brexit would continue as negotiations over the nature of the UK’s future relationship with the EU evolve over a period of years.

In this article, we explain what registration rights are, why they matter, and the key issues on which private equity firms should focus as they structure these arrangements.

The continuing Sun Capital saga took another sharp turn on March 28, 2016, as the District Court in Massachusetts held that two separate, but affiliated, private equity investment funds—each of which held less than a controlling interest in one of its bankrupt portfolio companies—are jointly and severally liable for the unfunded pension liabilities of the portfolio company.
The U.S. Securities and Exchange Commission and other U.S. federal financial regulators have released proposed rules that would restrict incentive compensation practices in an effort to curb “inappropriate” risk-taking at banks, broker-dealers, investment advisers (including private equity firms) and other covered financial institutions.
Recent amendments to the Japanese securities laws have added potentially onerous new requirements for non-Japanese fund sponsors marketing their funds in Japan who wish to avoid registration with Japan’s securities regulators.
A new UK classification regime that characterizes carried interest as “good” or “bad,” depending on the weighted average holding period of a fund’s investments, came into force on April 6, 2016.
Click here for a list of recent and upcoming events.
Click here for a list of (and links to) Debevoise & Plimpton Client Updates published since our last issue, along with recent awards and recognitions.
The Private Equity Report Editorial Board

This report is a
publication of
Debevoise & Plimpton LLP
www.debevoise.com

EDITORIAL BOARD
 

Paul S. Bird
Editor-in-Chief

Andrew M. Ahern
Jennifer L. Chu
Rafael Kariyev
Scott B. Selinger
Simon Witney

Alicia E. Lee
Associate Editor

FOUNDING EDITOR

Franci J. Blassberg

All contents @2018 Debevoise & Plimpton LLP. 
All rights reserved.




 

 

 

 

 

 

 

 


 

 


 


 

 

 

 

 

 

 

 

The Private Equity Report

Spring 2016
Vol. 16, Number 2
prior issues