Private Fund Update - March 31, 2014

This week's Private Fund Update covers:

• The House Small Business Committee's Views and Estimates on the SBA's FY 2015 budget, which recommends authorizing $4 billion in FY 2015 for the popular SBIC program;
• The IRS's determination that bitcoin and other virtual currencies should be treated as property rather than currency;
• The SEC's recent cybersecurity roundtable; and
• FSOC's May 19 hearing on the asset management industry.

Key things taking place this week include:

• House Appropriations Committee hearings on the FY 2015 budget for the SEC, Treasury, and Small Business Administration;
• Wednesday's Small Business Committee hearing on bitcoin for small businesses; and