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ARTICLE · 05 FEBRUARY 2025

Private Funds Radar - January 2025

Macfarlanes LLP
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The private funds radar is our regular roundup of developments from around the world for private fund stakeholders.

GlobalFinance and Banking
Samuel Brooks
Samuel Brooks
Peter Chapman
Peter Chapman
Chris Daniel
Chris Daniel
Christopher Good
Christopher Good
Harriet Miller
Harriet Miller
Stephen Robinson
Stephen Robinson
Stephen Ross
Stephen Ross
Samuel Brooks
Samuel Brooks

The private funds radar is our regular roundup of developments from around the world for private fund stakeholders.

US

SEC charges sponsor for improperly charging expenses to its private funds

A private fund sponsor has settled charges with the SEC that concerned the charging of improper expenses to its private funds.

The SEC found that the sponsor had charged expenses that ought properly to have been borne by the sponsor itself, to its funds. These included the costs of the sponsor's outsourced finance function (following the departure of its CFO), PR costs and legal fees incurred for the benefit of the sponsor. None of these were listed as a permitted fund expense under the funds' governing documents, nor had the sponsor disclosed their payment to the funds' investors.

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