Private Equity Newsletter — June 13, 2008

This issue includes the article “Treasury Proposes Regulations Implementing Foreign Investment and National Security Act,” which reports that proposed regulations clarify the national security reviews of investments in U.S. businesses by foreign persons. Also featured is “Bad News: House Bill Attacks Hedge Fund Fee Arrangements,” which discusses a provision eliminating the ability of U.S. hedge fund managers to defer paying tax on compensation from offshore hedge funds. Additionally, “Good News: California Withdraws Proposed Investment Adviser Registration Rules,” reports that investment advisers in California can continue to rely on existing exemptions for registration.