The Wall Street Journal recently reported that the House of Representatives is preparing legislation that would exempt private equity fund managers from rules that some say are burdensome. Representatives Robert Hurt and Juan Vargas are authoring the bill, which would update current law to ease this burden.
The current law requires private equity fund managers with more than $150 million in assets under management to register and file reports with the Securities Exchange Commission. The proposed bill, which has not been formally introduced yet, would limit certain of the reporting requirements for the funds. According to the Wall Street Journal, fund managers “would be exempt from disclosing financial details about their underlying portfolio companies,” which some have argued is unduly burdensome to complete. The bill would also ease advertising restrictions.
For the complete Wall Street Journal article click here.