Lest We Forget, The SEC Cares About Private Equity

During last week's testimony before the Senate Committee on Banking, Housing, and Urban Affairs, the questioning of SEC Chair Gary Gensler focused on the expected topics of cryptocurrency regulation, ESG disclosures, and gamification.  But Gensler's written testimony circulated beforehand reminded the marketplace that private funds, including private equity, will continue to be a focal point.

In particular, Chair Gensler stated that the SEC is considering potential reforms regarding "the conflicts of interest [private fund] managers may have and the information they are providing investors about the fees they charge," noting that "enhance[d] disclosures" will "better enabl[e] pensions and others . . . to get the information they need to make investment decisions."  While no proposed rulemaking has been announced, this suggests something may be in the works.  Gensler also suggested continued focus by both the Examination and Enforcement Divisions, with later