May
13
SEC Finds More Regulatory Lapses in Private Equity Exams
ByThe U.S. Securities and Exchange Commission is finding more regulatory lapses among private equity firms five years after gaining oversight of the industry under the Dodd-Frank Act.
Flaws include how pools for insiders such as friends and family shift certain expenses to other funds, Marc Wyatt, acting director of examinations at the SEC, said at an industry event Wednesday in New York. Other shortcomings include real estate funds overcharging for property management, and managers not collecting data to justify fees, he said…
SEC Finds More Regulatory Lapses in Private Equity Exams
