The SEC & Private Equity Firms: Significant Conflict of Interest Policy and Disclosure Issues to Watch for
Over the years, conflicts of interest have been a recurrent concern for regulators and investors. The Securities and Exchange Commission's (SEC) continued scrutiny of private equity conflicts of interest and disclosures was clearly demonstrated in its recent enforcement actions. Thus, private equity firms should ensure greater transparency by fulfilling their obligations in identifying, mitigating and disclosing conflicts of interest to avoid potential legal risks. They are also encouraged to review existing policies and establish a robust compliance program to effectively respond to the fast-changing dynamics of the private funds industry.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders brought together by The Knowledge Group will help the audience understand the important aspects of the SEC & Private Equity Firms: Significant Conflict of Interest Policy and Disclosure Issues. They will provide an in-depth discussion of this noteworthy topic. Speakers will also offer best practices to avoid common pitfalls and risks, and ensure compliance with applicable laws.
Key topics include:
- SEC's Recent Enforcement Actions
- Common Private Equity Conflicts of Interest
- Identification, Mitigation and Disclosure of Conflicts
- Potential Disclosure Issues
- Possible Implications on Private Funds Industry
- Conflict Management Procedures
- Disclosure Policies and Obligations
- Best Compliance Practices
Sam Lieberman, Partner
Sadis & Goldberg LLP
- SEC’S recent cases re: private equity – Vertical allocation issues
- What’s the SEC doing here?
- SEC enforcement priorities
Michael D. Saarinen, Counsel
Goodwin Procter LLP
- Allocation of investment opportunities – across different types of funds
- How do you decide how to split opportunities too large for any one fund?
Jason M. Halper, Partner
Orrick, Herrington & Sutcliffe LLP
- SEC inquiries into governance and related disclosure issues
Yasuhiro Saito, Partner
Saito Law Group PLLC
- International aspect of this
Yehuda M. Braunstein, Partner
Sadis & Goldberg LLP
- Disclosure Policies and Obligations Generally
- Best Practices for Identifying and Addressing Conflicts as They Arise or are Disclosed
- Expense Allocation Practices
Who Should Attend:
- Investment Advisers
- Corporate Attorneys
- Finance Lawyers
- Compliance Attorneys
- Private Equity Managers
- Private Equity Firms
- Other related/interested Professionals
Jason M. Halper, Co-Chair of the firm’s Financial Services Litigation practice, is a recognized leader in the fields of financial services and securities law and corporate governance/M&A. Jason has 25 years of experience representing financial institutions, Fortune 500 companies and other clients in high-stakes litigation and regulatory matters. He has tried cases to jury verdict or decision in federal and state courts, regulatory tribunals and arbitrations.
Jason is also an adjunct professor in corporate and securities law at the University of Pennsylvania Law School, and a frequent speaker and author. He is a member of the Advisory Board of Harvard Law School's Program on Corporate Governance and a regular Guest Contributor to the Harvard Law School Forum on Corporate Governance and Financial Regulation. He has published there as well as in, among others, Bloomberg, Thomson Reuters, The New York Law Journal, Law360, Columbia Law School’s Blue Sky Blog on Corporations and the Capital Markets, The Review of Securities& Commodities Regulation, Insights: The Corporate and Securities Law Advisor, The M&A Lawyer and Transaction Advisors.
Jason M. Halper, Co-Chair of the firm’s Financial Services Litigation practice, is a recognized leader in the fields of financial …
Michael Saarinen is a counsel in Goodwin Procter’s Private Investment Funds Practice. Michael advises a wide range of clients on the development, formation, marketing and operation of U.S. and international private funds, including private equity funds, hedge funds, venture capital funds, growth equity funds, funds of funds, stand-alone single asset funds, co-investment funds, single investor funds and various other innovative investment products. He also frequently counsels clients on regulatory and compliance matters.
In addition, Michael advises asset managers on matters that are critical to the growth of their businesses, such as compensation arrangements, internal governance and strategic transactions. Michael also represents institutional investors in connection with their investments in private funds.
Private Funds Management recently named Michael to its list of the top 30 private funds lawyers under the age of 40, an elite group of attorneys recognized by industry participants as “the best of the best in the field,” stating, “[w]hen he’s not speaking before an audience, Saarinen is busy advising major GPs like Advent International on new fund formations and other products. His peers tell us his work deserves praise. We couldn’t agree more.” Michael also has been recognized by The Legal 500 United States. He is regularly asked to speak about developments in the private funds industry and was recently invited to contribute an opening article to The International Comparative Legal Guide to: Alternative Investment Funds 2016.
Michael is a member of the New York State Bar Association’s Securities Regulation Committee and Private Investment Funds Subcommittee. He received his J.D., cum laude, from Harvard Law School, and his B.A., magna cum laude, from Columbia University. Michael can be reached at 212.459.7036 and email@example.com.
Michael Saarinen is a counsel in Goodwin Procter’s Private Investment Funds Practice. Michael advises a wide range of clients on …
Sam Lieberman is a partner in the Securities Litigation Group of Sadis & Goldberg LLP. He regularly handles high-profile securities litigation, enforcement actions, and government investigations on behalf of companies and individuals. He has handled investigations covering a wide-range of securities law issues before the SEC, FINRA, CFTC, CFE/CBOE, and CME. He has also handled precedent-setting cases addressing corporate governance, including in Delaware Chancery Court. His recent representations have been profiled in the Wall Street Journal, the New York Times, the New York Post, Bloomberg, Reuters and Law360. Sam also regularly advises companies and individuals about compliance programs and preparing for SEC compliance examinations.
Sam Lieberman is a partner in the Securities Litigation Group of Sadis & Goldberg LLP. He regularly handles high-profile securities …
Yehuda M. Braunstein heads up the Family Office practice and is also a member of the firm’s Financial Services and Corporate Groups. Mr. Braunstein counsels family office clients in connection with all aspects of their operations, including formation issues, governance and compensation issues, transactional and day to day matters as well as compliance issues.
Mr. Braunstein’s practice also focuses on investment funds, securities, joint ventures, regulatory compliance and investment advisers. He regularly structures and organizes hedge funds, private equity funds (including real estate, distressed and lending funds), funds of funds, separately managed accounts and hybrid funds. Additionally, he advises private fund managers on structure, compensation, employment and investor issues, and other matters relating to management companies. Mr. Braunstein also structures and negotiates seed investments and operating agreements. He provides ongoing advice to investment advisers on securities law issues, including SEC filings. His practice also involves counseling clients in SEC regulatory matters, including compliance issues related to registered advisers, as well as conducting mock audits.
Prior to joining Sadis & Goldberg, Mr. Braunstein was Special Counsel in the Investment Management Group at Schulte Roth & Zabel where he represented numerous private investment managers and various types of investment funds and an Associate at Debevoise & Plimpton where he primarily represented private equity funds and their investment advisers.
Mr. Braunstein received his J.D. from Fordham University School of Law and his B.S. from Touro College. He is a member of the New York State Bar.
Yehuda M. Braunstein heads up the Family Office practice and is also a member of the firm’s Financial Services and …
Mr. Saito serves regularly as the lead counsel for major multinational corporations in complex commercial disputes and major corporate scandals including FCPA enforcement and other white-collar criminal matters. His clients include major banks and other financial institutions, large accounting firms, and major trading companies, as well as major chemical, pharma and medical device manufacturers. He also regularly represents CEOs/chairmen of large corporations in white-collar criminal matters. His most recent matters include FCPA and kick-back investigation involving a major medical device manufacturer, governmental investigation into a major financial institution, and federal criminal charges that resulted in highly publicized Presidential pardons. Prior to founding his own firm, Mr. Saito was a partner and practice-group leader at major Wall Street law firms.
Mr. Saito serves regularly as the lead counsel for major multinational corporations in complex commercial disputes and major corporate scandals …
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About Orrick, Herrington & Sutcliffe LLP
Founded in San Francisco a century and a half ago, Orrick today is named as one of the “Global 20” leading firms by Law360. With more than 1,000 lawyers across Europe, Asia, the United States and Africa, our platform offers clients a distinctive combination of local insight and consistent global quality.
Our firm focuses on handling complex transactions and high-stakes disputes for clients in three sectors globally: tech, finance and energy & infrastructure. This sector-based focus enables us to bring a deep understanding of our clients' businesses and their markets. We are present in major markets worldwide, enabling us to provide seamless support to our clients regardless of borders.
In the tech sector, we are known for advising companies at all stages of their life cycles. We advise more than 1,600 early- to late-stage start-ups as well as a wide range of tech sector venture and private equity investors. We also act for many of the world's leading global tech companies in intellectual property trials and appeals.
About Goodwin Procter LLP
Goodwin Procter LLP is a leading Am Law 50 and Global 50 law firm, with offices across the United States and in Europe and Asia. Excelling at complex transactional work and high-stakes litigation, the firm combines in-depth legal knowledge with practical business experience to help clients maximize opportunities and manage risk. With more than 900 lawyers, Goodwin offers innovative counsel and delivers results through a client-centric and collaborative approach. The firm focuses on matters involving financial institutions, intellectual property, private equity, real estate capital markets, securities litigation/white collar defense, and technology/life sciences. Information may be found at www.goodwinprocter.com. Follow us on Twitter @goodwinprocter.
About Sadis & Goldberg LLP
Sadis & Goldberg LLP is a leading New York based law firm focused on delivering sophisticated and creative legal solutions in a highly professional manner. The Firm is internationally recognized for its financial services practice that consists of representing several hundred investment advisers and related investment entities (including hedge, private equity, venture capital, real estate and commodity fund formation). Similarly, the Firm provides regulatory and compliance advice and representation in connection with SEC enforcement proceedings. Notwithstanding the emphasis on the financial services industry, the Firm also provides a full range of tax, litigation, real estate, intellectual property and corporate services to its clients.
About Saito Law Group PLLC
Established by senior litigators from some of the nation’s most prestigious law firms, Saito Lurie LLP specializes in defending major multinational businesses in complex commercial litigation and white-collar criminal defense matters.