Congratulations to the Alliance of Merger & Acquisition Advisors on a successful Winter Conference in Scottsdale, Arizona. Congressman David Schweikert (R-AZ) was featured as a keynote speaker. Videos (hopefully) to follow.
Congress returns from recess to a relatively light schedule, at least as it relates to private funds. President Obama gives his State of the Union address Tuesday night, and is expected to unveil a host of policy objectives he plans on accomplishing through executive actions. Don't be surprised if there is also reference or two to carried interest in connection with the President's comments on income inequality.
This update reviews:
- Senate Banking Committee's Wednesday hearing on the Office of Financial Research (OFR). Last year, OFR issued a report which some fear could result in certain asset managers – including potentially some private funds – being designated as systemically important by the Financial Stability Oversight Council (FSOC), and thereby becoming subject to enhanced regulation;
- The SEC's recent enforcement action against a PE fund-of-funds portfolio manager; and
- The Joint Committee on Taxation's list of expiring federal tax provisions (i.e. loopholes).
Please click here to read this Private Fund update in full.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
