SEC: Private Equity Firms and Illegal Fee Collections

Um, Sage
May 2014
AiCIO News;2014, p1
The article reports on the findings of the U.S. Securities and Exchange Commission (SEC) of evidences of illegal fee collections in private equity firms since 2012. SEC's Office of Compliance Inspections and Examinations (OCIE) director Andrew Bowden says that their examinations suggest fees and expenses to be at highest risk of problems. It adds that many limited partnership agreements have broad definition of fees and expenses and poor disclosure of information in agreements.


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