Schulte partner Peter Greene quoted in Bloomberg Law

Schulte Roth & Zabel partner Peter Greene spoke with Matthew Bultman from Bloomberg Law for his article "Private Funds Exhale Over SEC Rule Despite Big Compliance Costs," discussing the recently adopted regulations aimed at increasing transparency in the private fund industry. While the final iteration of the rule permits various fund activities that would have been prohibited under the initial proposal, there are concerns that the rule will increase costs and decrease competition. Peter stated there are problems with the rule, “just not as many as there could’ve been.”

The SEC also added a legacy (grandfathering) provision that allows existing side letters with preferential treatment terms to remain undisturbed. Peter stated that disturbing prior side letters would have been a “practical morass.”

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