Law360: Why Attys Must Help PE Firms Improve Compliance Programs

27 July 2018

In a recent article for Law360 Debevoise partner Julie M. Riewe comments on the active role lawyers should play in improving compliance programs for their private equity clients. “It sounds simple,” explains Ms. Riewe, “but in practice can be very difficult because a firm’s business often evolves during the life of a fund in ways that are not always apparent in real time to compliance and legal teams.”

After failing to disclose certain fees to their investors, two private equity firms were recently fined millions of dollars by The U.S. Securities and Exchange Commission. This incident is just one of many recent large penalties levied by the SEC on private equity firms, making clear the importance of strong compliance programs in the sector. “The best compliance teams I see are those that are in constant dialogue with their business colleagues. That way, everyone is working together to ensure that the firm’s policies address current business practices” advises Ms. Riewe.

Why Attys Must Help PE Firms Improve Compliance Programs
By Benjamin Horney
July 26, 2018