Global Private Equity Watch - Feed https://privateequity.weil.com/category/securities-laws/ Tue, 14 Apr 2026 20:23:07 +0000 hourly 1 SEC Proposed Amendments to Auditor Independence Rules Could Benefit Private Equity and Investment Companies, IPOs and M&A Transactions https://privateequity.weil.com/insights/sec-proposed-amendments/ Mon, 06 Jan 2020 14:34:51 +0000 Howard Dicker Lyuba Goltser https://privateequity.weil.com/?p=6591 The Securities and Exchange Commission (SEC) recently proposed amendments to its auditor independence rules which, if adopted, will provide greater flexibility for auditor relationships and services that technically would have triggered breaches of the current rules (even though they do not pose a threat to an auditor’s objectivity and impartiality). The SEC hopes that the […]

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]]> The Securities and Exchange Commission (SEC) recently proposed amendments to its auditor independence rules which, if adopted, will provide greater flexibility for auditor relationships and services that technically would have triggered breaches of the current rules (even though they do not pose a threat to an auditor’s objectivity and impartiality). The SEC hopes that the […]

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]]> SEC Issues Guidance Regarding Investment Adviser Code of Ethics Reporting Exception https://privateequity.weil.com/funds/sec-issues-guidance-regarding-investment-adviser-code-of-ethics-reporting-exception/ Tue, 07 Jul 2015 18:52:39 +0000 David E. Wohl https://peblog.wpengine.com/?p=906 The staff of the SEC’s Division of Investment Management (the Staff) recently issued guidance regarding an exception to the reporting requirements for personal securities transactions of certain investment advisory employees. Section 204A of the Investment Advisers Act of 1940 (the Advisers Act) requires registered investment advisers to have written policies and procedures reasonably designed to prevent […]

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]]> SEC Issues Guidance Expanding the Scope of Knowledgeable Employee Standard https://privateequity.weil.com/thought-leadership/sec-issues-guidance-expanding-the-scope-of-knowledgeable-employee-standard/ Wed, 12 Feb 2014 17:43:30 +0000 Private Equity Alert https://peblog.wpengine.com/?p=314 On February 6, 2014, the Division of Investment Management of the Securities and Exchange Commission (the SEC) released guidance expanding the categories of individuals who may be deemed “knowledgeable employees” under Rule 3c-5 of the Investment Company Act of 1940 and therefore who may invest in private funds without meeting the qualified purchaser standard to include […]

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]]> On February 6, 2014, the Division of Investment Management of the Securities and Exchange Commission (the SEC) released guidance expanding the categories of individuals who may be deemed “knowledgeable employees” under Rule 3c-5 of the Investment Company Act of 1940 and therefore who may invest in private funds without meeting the qualified purchaser standard to include […]

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]]> David Blass Answers Questions with Respect to Broker-Dealer Registration of Private Fund Advisers https://privateequity.weil.com/thought-leadership/david-blass-answers-questions-with-respect-to-broker-dealer-registration-of-private-fund-advisers/ Mon, 21 Oct 2013 18:02:21 +0000 Private Equity Alert https://peblog.wpengine.com/?p=320 In April 2013, we issued a PE Alert addressing a speech by David Blass, Chief Counsel of the SEC’s Division of Trading and Markets, regarding the potential need for broker-dealer registration of private fund advisers. In his April speech, Mr. Blass focused his remarks on (i) whether the sale of fund interests by a private […]

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]]> In April 2013, we issued a PE Alert addressing a speech by David Blass, Chief Counsel of the SEC’s Division of Trading and Markets, regarding the potential need for broker-dealer registration of private fund advisers. In his April speech, Mr. Blass focused his remarks on (i) whether the sale of fund interests by a private […]

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]]> SEC Issues Guidance Update with Respect to Privately Offered Securities under the Custody Rule https://privateequity.weil.com/funds/sec-issues-guidance-update-with-respect-to-privately-offered-securities-under-the-custody-rule/ Mon, 12 Aug 2013 18:09:40 +0000 David E. Wohl https://peblog.wpengine.com/?p=326 The SEC has released new guidance with respect to Rule 206(4)-2 under the Investment Advisers Act. The Guidance provides relief to private fund sponsors by expanding the coverage of the “privately offered securities” exception in the Custody Rule to certain certificated, privately offered securities. Subject to the conditions set forth in the Guidance, registered investment advisers […]

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]]> The SEC has released new guidance with respect to Rule 206(4)-2 under the Investment Advisers Act. The Guidance provides relief to private fund sponsors by expanding the coverage of the “privately offered securities” exception in the Custody Rule to certain certificated, privately offered securities. Subject to the conditions set forth in the Guidance, registered investment advisers […]

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]]> SEC Adopts Final Rules Permitting General Solicitation in Private Offerings https://privateequity.weil.com/thought-leadership/sec-adopts-final-rules-permitting-general-solicitation-in-private-offerings/ Fri, 12 Jul 2013 18:19:25 +0000 Private Equity Alert https://peblog.wpengine.com/?p=331 On July 10, 2013, the SEC at an open meeting (i) adopted final rules eliminating the prohibition against general solicitation and general advertising(hereinafter referred to as a general solicitation) in certain securities offerings conducted pursuant to Rule 506 of Regulation D under the Securities Act, (ii) adopted final rules preventing felons and other bad actors […]

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]]> On July 10, 2013, the SEC at an open meeting (i) adopted final rules eliminating the prohibition against general solicitation and general advertising(hereinafter referred to as a general solicitation) in certain securities offerings conducted pursuant to Rule 506 of Regulation D under the Securities Act, (ii) adopted final rules preventing felons and other bad actors […]

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