A side letter is an agreement between an investor and a fund that alters the terms of the investor’s investment in the fund (i) by superseding some
On 14 May 2018, the Basel Committee on Banking Supervision (the "Basel Committee") and the Board of the International Organization of Securities
On April 18, the SEC approved the publication of three releases (the "Releases") proposing new regulatory requirements that are intended to expand and
On March 28, 2016, the U.S. District Court for the District of Massachusetts held that two private equity funds within Sun Capital were jointly and
On October 2, 2013, after a multi-year implementation process, amendments to the transaction documents of Master Asset Vehicle II ("MAV II") and
The First Circuit recently held that, in some cases, a private equity fund could be found to engage in a “trade or business,” and therefore be subject
On February 7, 2013, the U.S. Department of Labor (the "DOL") issued an advisory opinion 1 concerning the application of the fiduciary
On December 28, 2012, the U.S. Department of Labor (the “DOL”) published a proposed amendment to the so-called “Underwriter Exemptions,” which provide
On July 6, 2010 the DOL published in final form an Amendment (the "Amendment") to the QPAM Exemption (as amended, the "Amended Exemption") to permit a QPAM to utilize the relief provided by the exemption with respect to an employee benefit plan sponsored by the QPAM or any of the QPAM's affiliates.
On July 16, 2010 the DOL published an interim final regulation (the "Interim Final Regulation") (75 FR 41599) clarifying that a certain level of disclosure with respect to compensation and potential conflicts of interest is necessary in order for a plan fiduciary to determine that a contract or arrangement for services by a party in interest to a plan is "reasonable."