Private equity firms would do well to heed the warning given bySEC Enforcement Director Andrew Ceresney during a May speech thatthe SEC was “intensifying” its focus on them.
Since hisspeech at the Securities Enforcement Forum West in SanFrancisco, at least one large settlement with private equityadvisors, totaling more than $50 million, has been announced, adding tothe pile of private equity settlements the agency startedaccumulating in 2015.
Private equity firms wondering how to avoid being caught underthe SEC’s microscope would be wise to examine the recentenforcement actions, as they demonstrate a number of dealcharacteristics that have been grabbing the SEC’s attention.
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Nicolas Morgan
Nicolas Morgan is a partner at the global defense firm Paul Hastings and the founder and President of ICAN (Investor Choice Advocates Network). He focuses his practice on complex securities litigation in state and federal courts and representations involving government investigations and white-collar crime allegations levied against individuals and businesses. He routinely represents securities issuers, company officers and directors, investment funds, analysts and brokers in connection with SEC and FINRA investigations, litigation and arbitration. He also counsels public companies, funds and broker-dealers on securities compliance and corporate governance, conducts internal investigations and assists in regulatory examinations initiated by the SEC’s Division of Corporate Finance and Office of Compliance Inspections and Examinations.
