Private Fund Update (November 25, 2013)

This Update reviews:

• H.R. 1105, which exempts private equity funds from registering, is going to the House floor for consideration in early December;
• Friday's SEC Dodd-Frank Investment Advisory Committee decision to recommend imposing user fees on registered investment advisors in order to fund additional SEC examinations;
• Senate Finance Committee Chairman Max Baucus's proposal to reform the tax code for cost recovery and change tax accounting rules;
• The Riverside Company COO Pam Hendrickson's op-ed in Forbes defending Timothy Geithner's move to a private equity fund; and
• The recent House Financial Services Committee JOBS Act 2.0 markup, which affects BDCs and small M&A advisers.