From the New York Times:
Buyout firms are at the forefront of Capitol Hill. They have successfully promoted legislation to roll back regulatory disclosures required under the postcrisis Dodd-Frank legislation, even as they settle cases over misleading investors. If the bill is enacted, however, there is a risk of repercussions.
The House passed the plan on Friday. If it is made into law, private equity firms will no longer have to notify clients when there is a management change of a fund, or provide brochures about fees and other information if it has already been disclosed elsewhere. …
Critics are starting to rally. … They say it would exploit investors and threaten retirement savings. Senator Elizabeth Warren, Democrat of Massachusetts, has also criticized the proposal and is positioned to fight against it when it reaches her chamber.
The full article is here.
