PE Council Testifying In Support of PE Firm Registration
The Private Equity Council this afternoon will formalize its support of President Obama's proposal that private equity firms be required to register as investment advisors with the Securities and Exchange Commission. Mark Tresnowski, a managing director and general counsel of Madison Dearborn Partners, will deliver the trade group's message via testimony in front of the Senate Subcommittee on Securities, Insurance, and Investment. Tresnowski is expected to argue against private equity's ability to cause the type of systemic failure that has promped the proposed legislation, but will concede that "excluding any asset class from the new regulatory regime could contribute in some way to diminished confidence in the effectiveness of the new regulatory regime."
