Private Equity Newsletter - April 15, 2013

This issue includes the article “SEC Increases Focus on Transaction Fees and Other Broker-Dealer Issues for Private Fund Sponsors,” which reports that the SEC recently increased its focus on private fund sponsor compliance with broker-dealer registration laws, as highlighted by a recent speech by the Chief Counsel of the SEC Division of Trading and Markets, and “President’s Budget Proposals Include Changes to Carried Interest Taxation,” which discusses a provision re-characterizing all income from carried interests as ordinary income.