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Banks should only be prohibited from engaging in stand-alone, proprietary trading, according to the American Bankers Association.
The regulator issued a risk alert after finding consistent shortcomings in the way performance is advertised.
Just over half of LPs have experienced greater transparency from fund managers since 2015, a new report claims.
A few issues could give the commission cause for concern in what appear to be relatively vanilla transactions.
The US regulator is getting to grips with potential conflicts of interest in plain vanilla deals.
The OCC’s investigation could be the first step in dismantling the regulation that restricts a bank’s ability to invest in private equity.
The Federal Reserve Board is allowing banks an additional two years to divest certain types of initial fund investments.
The bank already has a five-year extension to comply with the regulation which would push it to divest private fund stakes worth $6bn.
A recommendation to digitise stamp duty payments could expose fund managers restructuring, reorganising or transferring partnerships to more tax.
While offering some concessions, the US Treasury Department said overall limits to private equity investment by banks should remain in place.
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