Aaron Schlaphoff Discusses Pared-Back SEC Rule for Fund Managers With Pensions & Investments

Corporate partner Aaron Schlaphoff spoke with Pensions & Investments about the SEC’s move to pare back some controversial aspects of its proposed rule overhauling regulation of the private funds industry. In the article published on August 25, Aaron notes that the SEC’s final rule now includes a much smaller list of prohibited activities than the original proposal, and has “reframed” most prohibited practices as restricted, meaning they are permitted, but subject to disclosure and investor consent requirements. The rule, which will increase disclosure requirements for private fund advisers and restrict certain fee arrangements, was finalized by the SEC on August 23.

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