Bill Myers
Bill Myers has been a journalist for more than two decades in Chicago, Cambodia and Washington, DC. He started his career at the late, great City News Bureau of Chicago (motto: "If your mother says she loves you—check it out.")
Whatever happens to the SEC rules, the trade group hopes the industry can unite to raise the floor on transparency.
Sponsor-initiated processes will have to be reported to the regulator within 60 days from the end of each quarter.
Regulators have accused funds of foisting their fiduciary duties onto outsourced firms.
The proposals from earlier in the year include the requirement to obtain a fairness opinion on GP-led transactions and a requirement to report GP-led activity within one business day of close.
The proposals include the requirement to obtain a fairness opinion on the prices of secondaries transactions.