FranklinBobby

My vision to take NVCA to the next level

When I accepted the offer last summer to join NVCA as its next president and CEO, my first reaction was sheer joy. It was quickly dashed by a sense of panic when I realized I needed to get up to speed on an entirely new industry—and fast, writes Bobby Franklin of the National Venture Capital Association.

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Banks face U.S. fines over LBO loans: Reuters

Wall Street banks are bracing for a clampdown and even fines if regulators determine they have violated guidelines aimed at stamping out reckless underwriting on leveraged buyout debt, according to Thomson Reuters International Financing Review and Thomson Reuters Loan Pricing Corp.

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SEC exam findings a “wake-up call,” says LP

Early investor reaction to the first wave of private equity examinations from the U.S. Securities and Exchange Commission ranges from skepticism, frustration that sponsors don’t provide as much information as investors ask for, to gratitude that the SEC is going to help improve behavior.

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Some PE firms chosen for early SEC exams based on risk: Buyouts

A little-noted aspect of the first set of examinations of private equity shops by the U.S. Securities and Exchange Commission is that the agency in some cases picked firms considered to be more likely to have compliance problems, sister magazine Buyouts reported. That fact may help explain the high percentage of problems found.

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GOP legislator wants to boost tax on carried interest

Michigan Congressman Dave Camp on Wednesday offered a tax proposal he said would “clean up” the carried interest provision that lets private equity partners pay lower taxes on large portions of their incomes. Camp’s plan drew little support from other Republicans.

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SEC ponders whether sponsors are broker-dealers

In April of last year, David Blass, chief counsel for the Division of Trading and Markets at the U.S. Securities and Exchange Commission, gave a speech in which he warned that private equity funds might be required to register as broker-dealers in connection with their fundraising activities as well as charging transaction-related fees from their portfolio companies.

Lauren Koopman

PE Seen Catching Up on Sustainability, Environment

Corporations have led the way in addressing environmental, social and governance issues, but the private equity community is catching up, says Lauren Koopman, a director in the sustainable business solutions team at the global accounting firm PricewaterhouseCoopers.

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SEC Puts Private Equity In Its Sights

An official in the enforcement division of the Securities and Exchange Commission said last month that the agency has its eye on several industry practices that could disadvantage investors, such as the charging of deal fees and the cherry-picking of deals.

Emails Suggest SEC’s Schapiro Delayed JOBS Act Rule Amid Concerns About Legacy

Outgoing U.S. Securities and Exchange Commission Chairman Mary Schapiro delayed immediately implementing a rule to lift a ban on broader-based advertising for private placements in part because she feared it would tarnish her legacy as a pro-investor leader of the agency, internal SEC emails obtained by a U.S. House of Representatives oversight panel show.

Reuters – Tech Lobbying Group Opens in D.C.

Google, Amazon.com, eBay, Facebook and other Internet companies have formed a lobbying group called The Internet Association to tackle regulatory and political issues in Washington, D.C., and it is due to kick off on Wednesday, Reuters reports

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