Alberto Vilar was sentenced for fraud that included convincing a client to commit $5m to a nonexistent venture fund.
2 min read · 05 January 2013
The Commission will now evaluate the 170 comments it has received - most of which were critical of the proposal.
2 min read · 05 January 2013
Draft legislation, which would require all private equity, private equity real estate and hedge fund managers with more than $150m in assets to register with the SEC, must now face a test in the Senate.
2 min read · 05 January 2013
The SEC has said in a letter to FINRA that it may exempt registered-broker dealers from its proposed ban on placement agents interacting with public pensions.
3 min read · 05 January 2013
US House Ways and Means Committee chairman Charles Rangel has introduced the Tax Extenders Act of 2009, which would tax carried interest as ordinary income rather than capital gains. Similar tax plans have come up short in the Senate.
2 min read · 05 January 2013
If carried interest is taxed as ordinary income in the US, American GPs will face much higher tax rates than some of their European peers.
2 min read · 05 January 2013
SEC veterans Bruce Karpati and Robert Kaplan will lead the new unit, which the commission is creating to strengthen its expertise on alternatives, including private equity.
2 min read · 05 January 2013
Senator Debbie Stabenow’s comments could mean that GPs can breathe a sigh of relief, but the fate of carried interest is far from clear.
2 min read · 05 January 2013
As regulations governing private fundraising multiply, private equity firms are increasingly considering creating internal broker-dealers. TPG and KKR are among those with such divisions.
3 min read · 05 January 2013
The UBS private placement team and Quadrangle’s former marketing head were paid a total of $500,000 contingent on a vote not to terminate a fund’s investment period.
2 min read · 05 January 2013
