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Cady Bar the Door Insight & Commentary on SEC Enforcement Actions and Related Issues

Monthly Archives: March 2013

SEC Ramps Up Its Private Equity Parade

Posted in Broker-Dealers, Investment Advisers, Non-scienter-based Violations, Private Equity

Bruce Karpati, chief of the SEC’s Asset Management Unit, promised us several weeks ago that enforcement actions against private equity firms were about to heat up.  He wasn’t kidding.  Last Monday, the SEC filed two sets of settled administrative proceedings against private equity firms.  We’ll discuss one of them today, and the second in a… Continue Reading

SEC Issues Risk Alert on Investment Adviser Custody Rule

Posted in Auditors, Compliance, Investment Advisers, Non-scienter-based Violations

The SEC can express its displeasure with a particular securities practice in a number of different ways, with increasing levels of fun for the alleged malefactor.  Here’s a non-exhaustive list: One thing it can do is file an enforcement action in federal or administrative court.  This option is not fun at all.  It’s not as… Continue Reading

SEC Enforcement Coming to a Private Equity Firm Near You

Posted in Investment Advisers, Private Equity

Bruce Karpati, chief of the SEC’s Asset Management Unit (“AMU” or the “Unit”), recently spoke at the Private Equity International Conference in New York, and opened a window into the Unit’s views toward the industry.  In short, watch out, because the SEC is coming.  And given the recent expansion of the private equity space and… Continue Reading