...Jason Daniel Purpose To explain a US Securities and Exchange Commission (SEC) enforcement action against a registered investment adviser to private equity funds for allegedly providing brokerage services in connection with the acquisition and disposition of the securities of portfolio companies...

...Edward Bintz; Douglas Pelley; Gregory Hughes Purpose To explain the implications of a March 2016 US District Court decision in Sun Capital concerning two private equity funds’ joint and several liability for the withdrawal from a multiemployer pension plan by a bankrupt portfolio company...

...Samuel Lieberman; John T. Araneo Purpose To discuss the US Securities and Exchange Commission’s (“SEC’s”) increasing focus on disclosure and conflict-of-interest problems arising from how private equity fund (“PE Fund”) managers allocate expenses between management and fund investors. Design...

... Callahan can be contacted at: veronica.callahan@aporter.com © Authors 2015 Disclosure Investment adviser Compliance Securities and Exchange Commission (SEC) Private equity fund Fee and expense allocation On June 29, 2015, the US Securities and Exchange Commission (“SEC”) charged...

... conclusion that a private equity fund constitutes a “trade or business” for purposes of the ERISA multiemployer pension withdrawal liability and that, therefore, the fund could, under a “piercing the veil” type of approach, be held liable for the ERISA withdrawal liability of a bankrupt portfolio company...