Jenna Gottlieb
The US Securities and Exchange Commission has scheduled a meeting for 22 June to consider extending the SEC registration deadline and to adopt final rules.
New York Comptroller Thomas DiNapoli proposed legislation that would permanently ban the use of placement agents in New York’s $140bn pension fund.
The programme requires the US Securities and Exchange Commission to create an office that works with whistleblowers, who could set their sights on private equity firms.
The $236bn pension is planning to ban investment consultants from also acting as managers for the pension fund.
The US regulator plans on raising the net worth required of an investor in order for advisors to charge performance fees.
New York state will enforce a permanent ban on elected officials, lobbyists and all placement agents, whether paid or unpaid, from doing business with New York’s giant pension fund.
Former New York state comptroller Alan Hevesi was sentenced to up to four years in prison for his involvement in New York’s massive pension pay-to-play scandal that rocked the placement agent world.
Now that the US Congress has avoided a government shutdown by passing a 2011 budget, attention shifts to the 2012 budget. A carried interest tax hike could be likely to help pay for other spending cuts.
Thought the campaign behind a carried interest tax hike died last year? Think again.
The senior portfolio manager for CalPERS’ alternative investments programme will stay on until 31 March.
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