Ropes & Gray Hosts Webinar Series on Private Fund Advisor Rules

On August 23^rd, the SEC adopted new private fund advisor rules aimed at increasing transparency across the private fund industry. Ropes & Gray hosted a four-part webinar series beginning with an overview of the rules, followed by deeper dives on the preferential treatment rule, restricted activities, and quarterly statements.

In the first session on September 7, asset management partners Joel Wattenbarger and Nicole Krea, along with litigation & enforcement partner Doug Hallward-Driemeier, provided an overview of the rules, covering quarterly reporting requirements with respect to performance and fees and expenses, increased transparency regarding side letters and other “preferential treatment” for fund investors, prohibitions on certain liquidity rights and information sharing with fund investors, and limitations on the ability of fund managers to obtain reimbursement from private funds for costs associated with government investigations.

To learn more, watch the webinar here. The three additional webinars took deeper dives into the preferential treatment rule, restricted activities and new reporting requirements.