This webinar examines the widespread harm that all businesses and investors would suddenly face if the Securities and Exchange Commission’s broadly accepted requirements for truthful disclosures and rules protecting investors suddenly come into question if the courts serve the SEC with an adverse ruling on a number of ongoing legal cases. In particular, the webinar will examine one such case involving the private fund (hedge fund and private equity) industry who is attempting to overturn the SEC’s groundbreaking rule that empowers institutional investors in private funds like pensions, university endowments, and foundations, and provides them with much needed protections.
The panel will recap how investing in private funds is an unfair proposition, how the SEC’s rules address these issues, and why the most standard transparency and reporting requirements are being heavily opposed by the industry, who often withholds the performance of its investment funds from its own investors. The private fund industry is going as far as creating a mysterious new trade group called the National Association of Private Fund Managers in Fort Worth, TX to bring a legal challenge – to not only the rule, but SECs rulemaking authority more broadly – in the deregulation-friendly 5th Circuit. A number of panelists have submitted amicus briefs reiterating the SEC’s authority in implementing the private fund advisers rule and will speak to the consequences of that rule and others the SEC
Speakers: Moderator: Andrew Park, senior policy analyst, Americans for Financial Reform
Panelists: Anat Alon-Beck, Associate Professor, Case Western University of Law Neal Prunier, Senior Director, Institutional Limited Partners Association (ILPA) Brianne Gorod, Chief Counsel, Constitutional Accountability Center (CAC) Patrick Corrigan, Associate Professor of Law at University of Notre Dame Law School Thomas Burns, Founding Shareholder, Burns P.A.
The live webinar took place on Thursday, March 14th, 2024