Claire Wilson
The agency will start spending less time working on new financial regulations, according to its chairman, Jay Clayton.
The regulator issued a risk alert after finding consistent shortcomings in the way performance is advertised.
One of Paramount Group’s funds failed to reimburse another following a cross-fund transaction, the SEC said.
Quarterly reports to investors must be explicit on the use of subscription credit lines, while LPs must ask for data that discounts the impact of borrowed cash, the lobby group recommends.
Fess Wofse will replace Mike Schurer, who left the firm in January.
The former Federal Reserve chairman told PEI’s CFOs and COOs Forum that the Act, which includes the Volcker Rule, was “embedded in the system."
Of keen interest to everyone in private equity: the Securities and Exchange Commission’s focus is likely to switch from implementing the Dodd-Frank Act to unravelling it.
The executive held the position for nine years before leaving to focus on philanthropic work.
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