Last week, the House Financial Services Committee held a hearing on potential JOBS Act 2.0 legislation, including legislation to modernize business development companies (BDCs). Also of note, the Private Equity Growth Capital Council released a report showing PE returns outperforming all other asset classes over a 10-year time horizon for large public pension funds, and Treasury released a report on its Small Business Lending Fund.
This week, the Senate Banking Committee will hold a hearing on JOBS Act implementation and the CFTC will hold a hearing to consider a proposal to impose position limits on the use of derivatives.
This Update contains:
- A summary of the House Financial Services hearing on legislation to reduce impediments to capital formation;
- The SEC's new proposed rule on crowdfunding;
- The sanctions SEC announced last week against three investment advisory firms for problems with their compliance programs;
- Reports by Treasury on the Small Business Lending Fund, the Private Equity Growth Capital Council (PEGCC), and the Investment Adviser Association (IAA).
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